Bill > S1918

This bill modifies retirement allowance provisions for public retirees who are veterans by introducing new options for additional yearly retirement allowances. Specifically, the bill allows retirement systems to vote to provide veterans in Group 1, Group 2, or Group 4 an extra $50 per year of creditable service, with a maximum additional allowance of $1,000. The acceptance of this provision requires a majority vote by the retirement system's board and approval by the appropriate legislative body (such as a city council, town meeting, or governing board). For state teachers' and state employees' retirement systems, the provision is automatically deemed accepted. Importantly, these changes are prospective, meaning they will only apply from the date of acceptance and will not provide retroactive benefits. The bill amends several sections of Chapter 32 of the Massachusetts General Laws to implement these changes, ensuring that veterans in public service can receive a modest additional benefit in recognition of their service.

Budget and Finance, Labor and Employment

https://malegislature.gov/Bills/194/S1918