MA H2295

Bill

Defining regular interest for retirement systems

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to the definition of regular interest for retirement systems. Public Service.

AI Summary

This bill amends the definition of "regular interest" for members of any retirement system in Massachusetts. Specifically, it states that for any calendar year beginning after December 31, 2004, regular interest shall be calculated at a rate of one-half the actuarial assumed rate of investment return for the members' system, rounded to the nearest tenth of one percent. This change is intended to provide a more accurate and up-to-date definition of regular interest, which is an important factor in determining benefits and contributions for public retirement systems.

Committee Categories

Labor and Employment

Sponsors (1)

Dan Hunt (D),

Last Action

Accompanied a study order, see H4722 (on 05/20/2020)

Official Document

https://malegislature.gov/Bills/191/H2295

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H2295
Bill	https://malegislature.gov/Bills/191/H2295.pdf

Bill	Bill Name	Last Action	Type
H18	Establishing a special commission on retirement credit purchases	Accompanied a study order, see H4722	Similar To
H2181	Relative to the definition of Group 4 of the retirement system	Accompanied a study order, see H4722	Similar To
H2186	Relative to the definition of group two of the public employee retirement system	Accompanied a study order, see H4722	Similar To
H2324	To study the modernization of retirement systems for future state employees	Accompanied a study order, see H4722	Similar To
H2351	Relative to teachers' retirement credits for parochial schools	Accompanied a study order, see H4722	Similar To
H2373	Relative to chapter 15A	Read; and referred to the committee on House Ways and Means	Similar To
H2387	Relative to the retirement of University of Massachusetts police	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H4722	Retirement, benefits and other public service issues	Reported, in part, by H2169	Replaced by
S1471	Relative to part-time higher education faculty eligibility in the state retirement system	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1558	Providing for an equitable Massachusetts Teachers’ Retirement System pension for Paul C. Nordberg	Accompanied a study order, see S2545	Similar To

Bill

Bill Name

Last Action

Type

H18

Establishing a special commission on retirement credit purchases