Bill > S1820

This bill provides James G. Clothier, a former teacher who worked in New York State's public schools, with a unique opportunity to purchase ten years of additional creditable service in the Massachusetts teachers' retirement system. Specifically, Mr. Clothier can buy these additional years of service credit for $18,502.14, which will be permitted despite any existing pension or retirement benefits he may have received from a New York State teacher retirement system. If he completes this purchase, the ten years of service will be retroactively considered as purchased on January 26, 1998, and will be included in calculating his superannuation retirement allowance, which was originally effective from his retirement date of June 30, 2002. This legislation is designed to correct what appears to be a pension inequity by allowing Mr. Clothier to enhance his retirement benefits through the purchase of additional service credit, and the bill will take effect immediately upon its passage.

Labor and Employment

https://malegislature.gov/Bills/194/S1820