Bill > H2957

This bill modifies provisions related to veterans' buyback of retirement service credits, allowing veterans who previously missed a time-limited opportunity to purchase service credits to do so again. Specifically, the bill makes several key changes: it requires retirement boards to provide written notice to members about their potential eligibility for service credit purchases, extends the window for purchasing credits to within 1 year of vesting in the retirement system, and provides a one-time opportunity for veterans who did not make a service credit purchase within the originally mandated 180-day period to now apply to do so within one year of the act's effective date. Additionally, retirement systems are required to notify all current members in service about their potential eligibility for this purchase within 90 days of the act taking effect. The bill appears designed to give veterans more flexibility and opportunity to buy back their military service time for retirement credit purposes, addressing potential past barriers or missed opportunities for service members.

Labor and Employment

https://malegislature.gov/Bills/194/H2957