Bill > H2382

This bill modifies existing Massachusetts law concerning the funding ratio of the Pension Reserves Investment Trust Fund, which is a fund used to pay retirement benefits for public employees. Specifically, it changes the threshold at which certain actions are triggered related to the fund's financial health. Previously, if the fund's funded ratio, meaning the percentage of its liabilities that are covered by its assets, fell below sixty-five percent, specific provisions would apply. This bill lowers that threshold to fifty percent, meaning that the fund's financial status will now need to be significantly worse before those provisions are activated.