Bill > H2873

This bill amends the Massachusetts retirement system laws to provide creditable service for teachers who have experienced unemployment due to a reduction in force. Specifically, the bill allows teachers who are members of the teachers retirement system or the Boston retirement system to receive retirement credit for periods of unemployment, with some important conditions. To be eligible, a teacher must have been terminated due to a reduction in force, subsequently employed as a teacher in another governmental unit, and have at least 10 years of membership service. Teachers can receive creditable service for their unemployment period on a proportionate basis, as determined by the retirement board, but the total creditable service cannot exceed 4 years. To obtain this credit, teachers must pay into the Annuity Savings Fund an amount equal to the retirement deductions that would have been withheld had they continued working, including regular interest. This payment can be made in a lump sum or in installments, according to terms set by the retirement board. The provision aims to provide financial protection and recognition of service for teachers who experience job disruption through no fault of their own.

Labor and Employment

https://malegislature.gov/Bills/194/H2873