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MA H4111

MA H4111
Authorizing the city of Boston to establish an alternative superannuation retirement benefit program


summary

Introduced
09/16/2021
In Committee
09/16/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

By Ms. Miranda of Boston, a petition of Liz Miranda (with the approval of the mayor and city council) that the Boston Retirement System be authorized to establish an alternative superannuation retirement benefit program for certain educators and nurses. Public Service. [Local Approval Received.]

AI Summary

This bill authorizes the Boston Retirement System to establish an alternative superannuation retirement benefit program for certain educators and nurses. The key provisions are: 1. Mandatory participation in the alternative program for teachers and school nurses who transfer into the Boston Retirement System and begin contributing on or after July 1, 2019, requiring them to contribute at least 5 years at 11% of their regular compensation. 2. A one-time opportunity for eligible teachers and school nurses who joined the Boston Retirement System between July 1, 2001 and June 30, 2019 to elect to participate in the alternative program. 3. A one-time opportunity for eligible Boston Retirement System members who became members before July 1, 2001 to elect to participate in the alternative program. 4. Members who participate in the alternative program must contribute at 11% and may be required to make additional makeup contributions. 5. Elections to participate or not participate in the alternative program are irrevocable.

Committee Categories

Labor and Employment

Sponsors (17)

Last Action

Accompanied H19 (on 01/19/2022)

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