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Bill > S1612
MA S1612
MA S1612Relative to a service based retirement option for Group 1 and Group 2 career employees
summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation relative to a service based retirement option for Group 1 and Group 2 career employees. Public Service.
AI Summary
This bill allows Group 1 and Group 2 career employees in Massachusetts who have been members of the state retirement system for at least 30 years to retire and receive a service-based retirement allowance, regardless of their age. The employee must agree to fully fund their pension benefit upfront, using their vacation time or personal allowance, as determined by the State Retirement Board to reach a 75% pension benefit (for 30 years of service) or an 80% benefit (for 32+ years of service). This provides these long-serving employees with an alternative retirement option outside of the standard age-based requirements.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Accompanied a study order, see S2610 (on 02/08/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S1612 |
| BillText | https://malegislature.gov/Bills/193/S1612.pdf |
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