summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the investment performance and funded ratio of certain retirement systems. Public Service.
AI Summary
This bill amends Section 22 of Chapter 32 of the Massachusetts General Laws. It establishes that any retirement system with a funded ratio (the ratio of assets to liabilities) of less than 50% and an annual rate of return during the previous 10 years that is at least 3 percentage points lower than the Pension Reserves Investment Trust (PRIT) Fund's rate of return over the same period shall be declared underperforming by the commission. Additionally, the bill changes the duration of the declaration of underperformance from "in perpetuity" to "may not be revoked for five years."
Committee Categories
Labor and Employment
Sponsors (2)
Last Action
Accompanied a study order, see H4722 (on 05/20/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://malegislature.gov/Bills/191/H2341 |
Bill | https://malegislature.gov/Bills/191/H2341.pdf |
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