Bill > S2209

This bill amends the Massachusetts teachers' retirement system by making the following key changes: 1. Any member who transfers into the teachers' retirement system or the Boston retirement system as a teacher and begins contributing on or after January 1, 2018 will be a mandatory participant in the alternative superannuation retirement benefit program, unless their prior membership included service before January 1, 2018, in which case they have 180 days to elect out of the program. 2. Members who transferred into the teachers' retirement system or Boston retirement system as a teacher between July 1, 2001 and December 31, 2017, and did not previously elect to participate in the alternative superannuation retirement benefit program, will have a new one-time opportunity to do so between July 1, 2018 and January 1, 2019. 3. The bill also clarifies that any election to participate in the alternative superannuation retirement benefit program is irrevocable, and sets terms for reimbursement of additional contributions if a member does not complete the required service.

Budget and Finance, Labor and Employment

https://malegislature.gov/Bills/190/S2209