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Bill > S1397


MA S1397

MA S1397
Relative to retirement allowances of certain married persons


summary

Introduced
04/15/2015
In Committee
03/28/2016
Crossed Over
Passed
Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

For legislation relative to retirement allowances of certain married persons. Public Service.

AI Summary

This bill allows certain married individuals receiving retirement allowances calculated under Option (c) of Chapter 32 of the general laws to have their retirement allowance recalculated using an updated mortality table, which is a statistical table used to estimate life expectancy. Before this recalculation can happen, the relevant retirement board must adopt the section, and the retirement system must conduct a study to understand the financial impact. If adopted, eligible individuals will be notified and have 180 days to request the recalculation in writing, and any resulting difference in payments can be made retroactively and paid in a lump sum.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (1)

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 03/28/2016)

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