Bill > H5058

This bill allows Deina Abdelkader, an employee of the University of Massachusetts, to become a member of the state employee retirement system within 30 days of the bill's effective date. Upon electing to join the state retirement system, Abdelkader must discontinue her participation in the optional retirement program. The bill also allows Abdelkader to purchase creditable service for the time she worked at the University of Massachusetts and any prior membership in the state retirement system. The cost of purchasing this creditable service will be the contributions Abdelkader and the Commonwealth would have paid into the state retirement system, plus investment gains and interest. Abdelkader must complete several steps, including transferring her assets from the optional retirement program to the state retirement system, in order to complete the transition.