AN ACT RELATIVE TO THE OTHER POSTEMPLOYMENT BENEFITS TRUST FUND OF THE TOWN OF ARLINGTON.
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. Notwithstanding section 22D of chapter 32 of the General Laws or any other general or special law to the contrary, the retirement board of the town of Arlington and the town may extend from June 30, 2023 to June 30, 2028 the town’s retirement system funding schedule calculated to reduce the unfunded actuarial liability of the pension system to zero. The difference between the funding liability that would have been necessary to reduce the pension system’s liability to zero by 2023 rather than 2028 may be appropriated by the town meeting after recommendation of the board of selectmen, finance committee and treasurer to the Other Postemployment Benefit Trust Fund established by chapter 161 of the acts of 2005.
SECTION 2. This act shall take effect upon its passage.