MA H21

Bill

Establishing a special commission on retirement credit purchases

Introduced
04/13/2021

In Committee
04/07/2022

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

So much of the recommendations of the Massachusetts Teachers' Retirement Board (House, No. 18) as relates to establishing a special commission on retirement credit purchases. Public Service.

AI Summary

This bill establishes a special commission to evaluate and study the costs and benefits of all service purchases allowed under Chapter 32 of the Massachusetts General Laws, which governs the state's contributory retirement systems. The commission will review the associated actuarial liabilities, recommend appropriate cost-sharing between employees and employers, explore whether the types of allowable service purchases can be expanded to help recruit and retain public employees, and recommend any other changes deemed necessary to improve the long-term sustainability of the retirement systems. The commission will consist of representatives from various state and local government agencies, public sector unions, and other stakeholders, and will submit its recommendations, including proposed legislation, to the state legislature by May 1, 2022.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (0)

No sponsors listed

Last Action

No further action taken (on 01/03/2023)

Official Document

https://malegislature.gov/Bills/192/H21

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H21
Bill	https://malegislature.gov/Bills/192/H21.pdf

Bill	Bill Name	Last Action	Type
H19	Relative to the Massachusetts teachers’ retirement system	Amendment (as recommended by the committee on House Ways and Means) adopted	Similar To
H20	Relative to pension forfeiture	Accompanied a study order, see H4960	Similar To
H22	Relative to the interest charged on refund buybacks	No further action taken	Similar To
H23	Clarifying and normalizing non-public school service purchases	No further action taken	Similar To
H24	Relative to domestic relations orders	Accompanied a study order, see H4844	Similar To
H2594	Relative to the Massachusetts Teachers' Retirement System	Accompanied H19	Similar To
H4443	Relative to the alternative superannuation retirement benefit program for teachers	Signed by the Governor, Chapter 134 of the Acts of 2022	Similar To
S1778	Relative to creditable service for Lisa Emma, a member of the Massachusetts Teachers' Retirement System	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1790	Regulating for legislation to regulate education administrator retirement	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1791	To provide a retirement enhancement opportunity for certain members of the Massachusetts Teachers Retirement System	Accompanied a new draft, see S2783	Similar To

Bill > H21

MA H21

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (0)

Last Action

Official Document

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