Budget Amendment ID: FY2015-S4-154-R1

Redraft GOV 154

Dual Pensions Fix

Mr. Donnelly moved that the proposed new text be amended by inserting after section ___, the following new sections:-

“SECTION __.  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 inserting in place thereof the following:-

(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 position whose annual regular compensation was less than five thousand dollars.  Section 3(7)(d) of this chapter shall not be applicable whenever the provisions of this paragraph are applicable. Any member who retires after the effective date shall only be considered a dual member if they meet the provisions of section 5(2)(e) as amended by the act.”

This paragraph shall only apply to the five years of creditable service immediately preceding a member’s superannuation retirement under section 5 of this chapter.

This paragraph shall not apply to section 6 of this chapter.

SECTION __. Section __ shall become effective upon passage. Any member who retires after the effective date shall only be considered a dual member if they meet the provisions of section 5(2)(e) as amended by the act.”