Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Notwithstanding the provisions of subdivision (4A) of section 3 of chapter 32 of the General Laws or any other general or special law to the contrary, the Massachusetts teachers' retirement system is hereby authorized and directed to allow Carolyn M. Farley to pay into the annuity savings fund of said system, for the period before January 1, 1973 in which she was a teacher in nonpublic schools in the commonwealth, or most recent portion thereof, as she may elect, an amount equal to that which would have been withheld as regular deductions from her regular compensation for such period had such service been rendered in a public school of the commonwealth and had she been a member of the Massachusetts teachers' retirement system during the period such service was rendered. Such payment shall be made in one sum, or in installments, upon such terms and conditions as the Massachusetts teachers' retirement board may prescribe. The credit for service in nonpublic schools shall not exceed ten years. No credit shall be allowed and no payment shall be accepted for any service for which Carolyn M. Farley is entitled to receive a retirement allowance or other similar payment from the nonpublic school system, the federal government or any other source.
In addition to the payment of such sum, or installments thereof, Carolyn M. Farley shall also pay into the annuity savings fund an amount of interest such that at the completion of such payments, the value of her accumulated payments, together with regular interest thereon, actually made on account of such previous nonpublic school service, shall equal the value of her accumulated regular deductions which would have resulted if regular deductions had been made when regular compensation for such service was actually received. Upon the completion of such payments, Carolyn M. Farley shall receive the same credit for such period of her previous nonpublic school service, or portion thereof elected, as would have been allowed if such service had been rendered by her in a public school of the commonwealth. Carolyn M. Farley shall furnish the Massachusetts teachers' retirement board with such information as it shall require to determine the amount to be paid and the credit to be allowed under this act, and the board shall redetermine Carolyn M. Farley's retirement allowance consistent with this section.