Bill

Bill > S1432


MA S1432

Relative to retirement allowances of certain married persons


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

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

AI Summary

This bill allows for the recalculation of retirement allowances for certain married persons who are receiving a retirement allowance pursuant to sections 1 to 28 of chapter 32 of the general laws and whose retirement allowance was calculated using Option (c) of said chapter. The recalculation would be based on an updated mortality table adopted pursuant to section 336 of chapter 149 of the Acts of 2004. Prior to adopting this provision, the retirement system must conduct an actuarial study to determine the costs and liabilities of recalculating the Option (c) retirement allowances. Eligible persons will be notified of this option and must request the recalculation in writing within 180 days of the notification, and the recalculation may be made retroactively to the date of the acceptance of this act.

Committee Categories

Labor and Employment

Sponsors (1)

Last Action

Accompanied a study order, see S2491 (on 04/26/2018)

bill text


bill summary

Loading...

bill summary

Loading...

bill summary

Loading...