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Bill > S1538


MA S1538

MA S1538
Relative to the teachers retirement 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

For legislation relative to the teachers retirement system. Public Service.

AI Summary

This bill amends the Massachusetts General Laws to make changes to the teachers' retirement system. Key provisions include: 1. Requiring teachers who transfer into the teachers' retirement system or Boston retirement system on or after July 1, 2001 and before June 30, 2019 to participate in the alternative superannuation retirement benefit program, unless they elected otherwise by December 31, 2019. 2. Providing a one-time opportunity for eligible teachers to elect to participate in the alternative superannuation retirement benefit program between January 1, 2020 and June 30, 2020, or within 180 days of their account being transferred to the new retirement system if that occurs on or after July 1, 2019. 3. Specifying that teachers who participate in the alternative superannuation retirement benefit program must contribute 11% of their regular compensation. 4. Clarifying that elections made under this bill are irrevocable, and that failure to elect will be considered an affirmative decision to participate or not participate in the alternative program.

Committee Categories

Labor and Employment

Sponsors (8)

Last Action

Accompanied H16 (on 06/06/2019)

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