Bill > H2373

This bill amends Chapter 32 of the General Laws concerning judicial pensions, specifically by replacing Section 65D with new provisions for judges appointed on or after January 2, 1975. It establishes new retirement rules for chief justices and associate justices of the appeals court, justices of the trial court, and chief justices and associate justices of the supreme judicial court who were appointed after this date and are not covered by previous judicial appointments. The bill details mandatory salary deductions for these judges, with percentages varying based on their hire date and salary amount, which are then deposited into a "judges retirement fund." It outlines specific conditions for retirement allowances, including age, years of service, and resignation, and clarifies how service as a special justice is calculated. The bill also includes provisions for district court justices with specific prior service and addresses the return of contributions if a judge resigns without meeting retirement requirements, allowing for transfer to other retirement systems. Finally, it clarifies that payments from the judges' retirement fund will be made from the same sources as judicial salaries if the fund is insufficient and addresses how employer contributions will be handled for tax purposes under the U.S. Internal Revenue Code, ensuring these assumed contributions do not negatively impact a judge's compensation for retirement or other benefit calculations.