Bill > H19

This bill proposes to amend the Massachusetts teachers' retirement system. The key provisions are: 1. A teacher who transfers into the teachers' retirement system or the Boston retirement system on or after July 1, 2021 must participate in the alternative superannuation retirement benefit program, contributing 11% of their regular compensation for at least 5 years. 2. The bill provides a one-time opportunity for teachers who became eligible for the teachers' retirement system or the Boston retirement system between July 1, 2001 and June 30, 2021 to elect to participate in the alternative superannuation retirement benefit program, with the option to make up contributions if they did not initially elect to participate. 3. The bill clarifies that the alternative superannuation retirement benefit program requirements apply to teachers who transferred into the systems on or after July 1, 2021, with a 180-day window to opt out if the prior service was rendered before that date. The bill aims to standardize and streamline the teachers' retirement system by requiring participation in the alternative superannuation program for certain teachers.

Budget and Finance, Labor and Employment

https://malegislature.gov/Bills/192/H19