MA S1381

Bill

MA S1381

To define surplus for retirement systems

Introduced
04/15/2015

In Committee
06/04/2015

Crossed Over

Passed

Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

For legislation to define surplus for retirement systems. Public Service.

AI Summary

This bill proposes to amend Chapter 32 of the General Laws by inserting a new definition for "surplus" within retirement systems, specifically for public service employees. The definition clarifies that "surplus" refers to any money held in various funds of a retirement system, including the annuity savings fund, pension fund, pension reserve fund (which can be in the PRIT fund, a specific investment vehicle for public employee retirement systems), expense fund, and the special fund for military service. These funds may contain money from regular member deductions, government appropriations, or investment earnings. The bill emphasizes that all these monies are held in contractual trust for the sole benefit of the retirement system members, and any surplus amounts exceeding the requirements to fully fund each system will also be held in trust for the members' benefit.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (1)

John Keenan (D)*,

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 06/04/2015)

Official Document

https://malegislature.gov/Bills/189/S1381

(18 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/189/S1381
Bill	https://malegislature.gov/Bills/189/S1381.pdf

Bill	Bill Name	Last Action	Type
H2309	Relative to the Massachusetts teacher retirement system	Accompanied a study order, see H4367	Similar To
S1235	Limiting the retention of fingerprints	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1262	Resolve providing for a study by a special commission relative to the primary prevention of gun violence	Accompanied a study order, see S2362	Similar To
S1265	Further regulating the issuance of firearms identification cards	Accompanied a study order, see S2362	Similar To
S1300	Requiring payment by certain prisoners of the Commonwealth	Accompanied a study order, see S2362	Similar To
S1314	Relative to uniform disciplinary procedures for correctional officers	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1331	Establishing creditable service for 03 employees	Accompanied a study order, see S2314	Similar To
S1334	Relative to assessments made by the state board of retirement to certain regional school districts	Accompanied a study order, see S2314	Similar To
S1338	Clarifying a police chief's retirement earnings limitation	Accompanied a study order, see S2314	Similar To
S1359	To study the modernization of retirement systems for future state employees	Accompanied a study order, see S2314	Similar To
S1376	Relative to part-time higher education faculty eligibility in the state retirement system	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1378	Relative to the retirement options of certain educational personnel	Accompanied a study order, see S2314	Similar To
S1383	Relative to documentary material or data received by retirement boards	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1402	Providing for an early retirement incentive for state employees	Accompanied a study order, see S2314	Similar To
S1422	Relative to pension fund performance and accountability	Accompanied a study order, see S2314	Similar To
S1426	To define member contribution for retirement system	Accompanied a study order, see S2314	Similar To
S1431	Relative to the retirement benefits of certain widows and surviving spouses	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S628	To protect health care reform funding	Accompanied a study order, see S2356	Similar To

Bill

Bill Name

Last Action

Type

H2309

Relative to the Massachusetts teacher retirement system

Accompanied a study order, see H4367

Similar To

S1235

Limiting the retention of fingerprints

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S1262

Resolve providing for a study by a special commission relative to the primary prevention of gun violence

Accompanied a study order, see S2362

Similar To

S1265

Further regulating the issuance of firearms identification cards

Accompanied a study order, see S2362

Similar To

S1300

Requiring payment by certain prisoners of the Commonwealth

Accompanied a study order, see S2362

Similar To

S1314

Relative to uniform disciplinary procedures for correctional officers

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S1331

Establishing creditable service for 03 employees

Accompanied a study order, see S2314

Similar To

S1334

Relative to assessments made by the state board of retirement to certain regional school districts

Accompanied a study order, see S2314

Similar To

S1338

Clarifying a police chief's retirement earnings limitation

Accompanied a study order, see S2314

Similar To

S1359

To study the modernization of retirement systems for future state employees

Accompanied a study order, see S2314

Similar To

S1376

Relative to part-time higher education faculty eligibility in the state retirement system

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S1378

Relative to the retirement options of certain educational personnel

Accompanied a study order, see S2314

Similar To

S1383

Relative to documentary material or data received by retirement boards

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S1402

Providing for an early retirement incentive for state employees

Accompanied a study order, see S2314

Similar To

S1422

Relative to pension fund performance and accountability

Accompanied a study order, see S2314

Similar To

S1426

To define member contribution for retirement system

Accompanied a study order, see S2314

Similar To

S1431

Relative to the retirement benefits of certain widows and surviving spouses

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S628

To protect health care reform funding

Accompanied a study order, see S2356

Similar To

Bill > S1381

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary