Bill > H2832

This bill modifies the Massachusetts Teachers' Retirement System (MTRS) benefit calculation by making two key changes. First, the bill replaces an existing table in the law that appears to define pension calculation percentages based on a member's age at retirement, updating the percentage rates for different age groups. Second, the bill adds a new provision requiring the MTRS to recalculate the annual pension benefits for all members who retired over the age of 65, ensuring their benefits are consistent with the updated percentage tables. The new provision would take effect immediately upon the act's passage. The changes seem designed to potentially adjust pension benefit calculations for teachers who retire at older ages, though the exact financial impact is not specified in the bill text. The bill appears to be a technical adjustment to the existing retirement system calculation methodology, with a specific focus on members who retire later in their careers.

Labor and Employment

https://malegislature.gov/Bills/194/H2832