SENATE DOCKET, NO. 2362        FILED ON: 1/17/2025

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

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PRESENTED BY:

Michael O. Moore, (BY REQUEST)

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to the Massachusetts Teachers’ Retirement System benefit calculation.

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PETITION OF:

SENATE DOCKET, NO. 2362        FILED ON: 1/17/2025

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Fourth General Court
(2025-2026)

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An Act relative to the Massachusetts Teachers’ Retirement System benefit calculation.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 5 of chapter 32 of the Generals Laws, as appearing in the 2020 Official Edition, is hereby amended in subsection 2, in subdivision (a) by striking out the first table after line 139 and inserting in places thereof the following:-

Age Last Birthday at Date of Retirement

Per Cent Group 1 Group 2 Group 4

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4.65 80 --- ---

4.50 79 --- ---

4.45 78 --- ---

4.30 77 --- ---

4.15 76 --- ---

4.00 75 --- ---

3.85 74 --- ---

3.70 73 ---- ---

3.55 72 --- ---

3.40 71 --- ----

3.25 70 --- ---

3.10 69 --- ---

2.95 68 --- ---

2.80 67 --- ---

2.65 66 --- ---

2.50 65 60 and over 55 and over

2.40 64 59 54

2.30 63 58 53

2.20 62 57 52

2.10 61 56 51

2.00 60 55 50

1.90 59 --- 49

1.80 58 --- 48

1.70 57 --- 47

1.60 56 --- 46

1.50 55 --- 45

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Section 2.   At the time that this legislation goes into effect, the MTRS shall recalculate the annual pension benefit of all its retired members of the MTRS who retired, over age 65, prior to the enactment of this law.  Such retirees shall have their annual pension benefit upgraded, if indicated, to the pension calculated under the provisions of this legislation.