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Bill > H2341


MA H2341

Regarding pension ratio of the funding system


summary

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 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)

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