summary
Introduced
02/16/2023
02/16/2023
In Committee
08/12/2024
08/12/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
So much of the recommendations of the Teachers' Retirement System (House, No. 16) 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, which governs the Massachusetts 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 these retirement systems. The commission will consist of representatives from various government agencies, retirement boards, and labor unions, and will submit its recommendations, including any proposed legislation, to the legislature by May 1, 2024.
Committee Categories
Budget and Finance, Labor and Employment
Sponsors (0)
No sponsors listed
Last Action
No further action taken (on 12/31/2024)
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/H17 |
| BillText | https://malegislature.gov/Bills/193/H17.pdf |
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