Bill > S1396

This bill provides retirement benefits for veterans by allowing certain retired members of a retirement system, who are veterans and retired before July 24, 1996, to have their retirement allowance recalculated. This recalculation will be based on additional credit for active service in the U.S. armed forces, with limitations such as not exceeding four years of service or service for which credit has already been received, and not exceeding the eighty percent retirement allowance limit. The bill specifically applies to Massachusetts National Guard and Active Reserve personnel, allowing five years of guard or active reserve service to be substituted for each year of active service. For retirement systems of political subdivisions, this act takes effect upon a majority vote of the system's board and the local legislative body, which can include town meetings, city councils, county commissioners, district members, or governing bodies of authorities, with acceptance certified to the commissioner.