Bill > H3282

This bill amends a section of Massachusetts General Laws concerning retirement systems, specifically chapter 32, section 5, paragraph (e) of subdivision (2), which deals with dual membership. The key provision is that this paragraph will no longer apply to any member who has accumulated at least 15 years of "credible service" (meaning creditable service that counts towards retirement benefits) from membership in two or more retirement systems, even if they haven't fully "vested" (met the minimum service requirements to be eligible for a pension) in all of those systems. For such members, their superannuation retirement allowance, which is a pension paid upon retirement, will be calculated by adding together the benefits they would receive if they were retiring solely from the system where they have the most days of credible service.