Bill > S1378

This bill expands retirement options for certain educational personnel by allowing individuals who transfer into the teachers' retirement system or the State-Boston retirement system to elect participation in an alternative superannuation retirement benefit program within 180 days of establishing membership. It also clarifies that for eligibility purposes within this program, years served as a school nurse, school social worker, early childhood teacher, speech, occupational or physical therapist, or school business administrator will count as years as a teacher, even if these roles were in public day schools or education collaboratives. Furthermore, the bill provides a window for individuals who were eligible for this alternative program before July 1, 2005, or who transferred into the teachers' or State-Boston retirement systems as teachers under specific conditions, to elect participation within 180 days of the bill's effective date, requiring them to make retroactive contributions with interest. This election is irrevocable and applies to both active and certain inactive or retired members who meet specific prior eligibility and notification criteria, with any new benefits adjusted to comply with federal tax laws.