Bill > H2792

This bill provides a specific retirement benefit modification for Brian P. Costello Jr., allowing him to be retroactively eligible for an alternative retirement benefit known as "Retirement Plus" that was originally established by Chapter 114 of the Acts of 2000. Under this bill, Mr. Costello can become eligible if he pays into the retirement system an amount equal to what he would have paid under the Retirement Plus program, minus the contributions he has already made, plus regular interest. The retirement board is required to recalculate his superannuation retirement allowance using the Retirement Plus formula and grant him the alternative retirement benefit retroactively to the date of his original superannuation retirement. The bill overrides any existing laws, rules, or regulations that might otherwise prevent this adjustment, and it will take effect immediately upon passage.

Labor and Employment

https://malegislature.gov/Bills/194/H2792