Bill > H2668

This bill amends the retirement benefits for certain public safety employees in Massachusetts. It creates a new Section 26A in Chapter 32 of the General Laws, which allows public safety officers (such as municipal police and sheriff's department employees) to retire at age 65 or after 20 years of service, with a retirement allowance of 60-75% of their highest average annual compensation. The bill also requires the retirement system actuary to analyze the contributions and normal costs associated with this new benefit. Additionally, the bill allows existing public safety officers to elect to participate in this alternative retirement system within 180 days, and exempts them from the additional 2% contribution requirement for other public employees.

Labor and Employment

https://malegislature.gov/Bills/193/H2668