Bill > H42

This bill makes several modifications to the Massachusetts State Employees Retirement System, addressing various aspects of retirement classifications, service calculations, and administrative procedures. The bill expands the definition of employees eligible for certain retirement classifications, including those providing services to parolees, mentally ill individuals, and persons with disabilities. It allows members who have worked in multiple retirement groups to receive pro-rated retirement benefits based on the percentage of years served in each group, particularly for state police officers and employees who entered service on or before April 2, 2012. The bill also establishes a new method for calculating "regular interest" by linking it to the Consumer Price Index for New England, with an annual rate not exceeding 2%. Additionally, it requires the state retirement board to classify a member's prior service and mandates that any amounts withheld from pensions in the month of a retiree's death be returned to the state retirement board by the commission. These changes aim to provide more flexibility and fairness in retirement benefits for state employees.

Labor and Employment

https://malegislature.gov/Bills/194/H42