Bill > S1817

This bill proposes a series of gradual changes to public retiree benefits in Massachusetts, focusing on incrementally increasing the percentage of maximum social security benefits that retired public employees can receive. Initially, the bill raises the monetary threshold from $13,000 to $18,000, and then transitions to a percentage-based system tied to the maximum social security benefit for an individual worker retiring at full retirement age. The changes will be implemented in stages over two decades, with percentages increasing from 65% to 100% at specific intervals (65% in 2026, 75% in 2031, 85% in 2035, 95% in 2039, and finally 100% in 2043). Additionally, the bill includes protections for existing retirees, such as preventing reductions in health premium contributions for those who retire before January 1, 2025, and establishing a maximum out-of-pocket cost limit of $2,500 for individual and $5,000 for family coverage for retired public employees over 65 who are not eligible for Medicare. These provisions aim to provide more predictable and potentially more generous retirement benefits for public employees over time.

Labor and Employment

https://malegislature.gov/Bills/194/S1817