Bill
Bill > H2566
MA H2566
Providing for an early retirement incentive program for employees of the Massachusetts Port Authority
summary
Introduced
01/23/2017
01/23/2017
In Committee
03/01/2018
03/01/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to establish an early retirement incentive program for employees of the Massachusetts Port Authority. Public Service.
AI Summary
This bill establishes an early retirement incentive program for employees of the Massachusetts Port Authority. The key provisions are as follows: Employees must be actively employed by the Port Authority and contributing members of the Massachusetts Port Authority retirement system to be eligible for the program. Eligible employees can request a combination of up to 5 years of additional creditable service and age to be added to their retirement benefits. However, the total retirement allowance cannot exceed 80% of the employee's average annual regular compensation. The Public Employee Retirement Administration Commission is required to analyze and report on the costs and actuarial liabilities of the additional benefits by November 30, 2017.
Committee Categories
Labor and Employment
Sponsors (2)
Last Action
No further action taken (on 01/01/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H2566 |
| Bill | https://malegislature.gov/Bills/190/H2566.pdf |
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