Bill > H3800

This bill aims to provide enhanced retirement benefits for certain public safety employees in Massachusetts. It amends the state's public employee retirement laws in the following ways: 1. Requires the state actuary to analyze the impact of benefit changes under this law, including changes to member contribution rates and normal costs, and report on these findings every 5 years. 2. Increases the member contribution rates for public employees joining service after certain dates, up to 12% for certain public safety officers. 3. Establishes a special retirement benefit for "public safety officers" (defined as municipal police and county sheriff's department employees) that allows them to retire at age 65 with a pension equal to 60-75% of their highest average annual compensation, provided they have at least 20 years of service. 4. Allows existing public safety officers to elect to participate in this new retirement benefit within 180 days of the law taking effect, with a requirement to contribute 12% for at least 3 years. 5. Exempts public safety officers participating in the new retirement benefit from certain other retirement contribution requirements. The overall purpose of this bill is to provide enhanced pension benefits and retirement options for certain categories of public safety workers in Massachusetts.

Labor and Employment

https://malegislature.gov/Bills/192/H3800