Bill > H2917

This bill amends Chapter 192 of the Acts of 2014 to modify the process for Dedham-Westwood Water District employees to buy back creditable service in the Norfolk County retirement system. Specifically, the bill requires the Norfolk County retirement system to request a legal determination from the Public Employee Retirement Administration Commission (PERAC) within 60 days to confirm that the service time purchase will not violate the Internal Revenue Code of 1986. The bill stipulates that the provisions will only take effect if PERAC provides a favorable letter of determination or ruling confirming tax code compliance. Once a favorable determination is received, the retirement system must notify eligible members about their ability to purchase service time, including costs, within 60 days. Members will then have 120 days to either pay the full cost in a lump sum or establish an installment payment plan. This legislation appears designed to provide a clear, structured process for employees to buy back retirement service credits while ensuring compliance with federal tax regulations.

Labor and Employment

https://malegislature.gov/Bills/194/H2917