Budget Amendment ID: FY2014-S3-160

GOV 160

Pension Correction

Mr. Donnelly moved that the proposed new text be amended by inserting after Section 37 the following sections:-

SECTION XX.  Section 5(2)(e) of Chapter 32 of the General Laws, as most recently amended by Chapter 21 of the Acts of 2009, is hereby amended by striking said paragraph (e) and replacing it as follows:

(e)  A person who has been a member of 2 or more systems and who, on or after January 1, 2010, has received regular compensation from 2 or more governmental units concurrently for greater than 60 days, shall, upon retirement, receive a superannuation retirement allowance to become effective on the date of retirement that is equal to the sum of the benefits calculated pursuant to this section as though the member were retiring solely from each system; provided however, that notwithstanding paragraph (c) of subdivision 8 of section 3, each system shall pay the superannuation retirement allowance attributable to membership in that system to the member; and provided further, that this section shall not apply to any member who has vested in 2 or more systems as of January 1, 2010, or to any member whose annual regular compensation for one or more positions is less than five thousand dollars.  The provisions of section 3(7)(d) of this chapter shall not apply in any circumstance where the provisions of this paragraph apply. The provisions of this paragraph shall not be deemed to prohibit or limit the minimum service requirement to be eligible for a benefit established under section 6 of this chapter.

SECTION XX.  The provisions of Section XX shall take effect on the date of passage of this act and shall only be applicable to any person who files for superannuation retirement under the provisions of Section 5, Chapter 32 of the General laws after said date.