HOUSE DOCKET, NO. 3262 FILED ON: 1/14/2009
HOUSE . . . . . . . . . . . . . . No. 2306
The Commonwealth of Massachusetts
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PRESENTED BY:
James Arciero
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To the Honorable Senate and House of Representatives of
the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act relative to Retirement Systems and Pension Calculations.
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PET
ITION OF:
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Name:
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District/Address:
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James Arciero
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2nd Middlesex
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Steven C. Panagiotakos
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First Middlsex
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The Commonwealth of Massachusetts
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In the Year Two Thousand and Nine
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An Act relative to Retirement Systems and
Pension Calculations.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Section 1.
The definition of “Regular compensation” in Section 1 of chapter 32 of the General
Laws is hereby amended by striking out the words “ ‘ Regular compensation’, during any period subsequent to December thirty-first, nineteen hundred and forty-five , shall mean the salary, wages or other compensation in whatever form” and inserting in place
thereof the following words:- “Regular compensation”, during any period subsequent to December 31, 1945, shall mean the salary, wages or other compensation in whatever form, excluding any compensation paid in connection with housing, use of motor vehicles
, an annuity, travel or any other benefit paid in addition to salary and wages.”
Section 2.
Said chapter 32 of the General Laws is hereby amended by adding the following section:-
Section 104. Notwithstanding any provision of this chapter to the contr
ary, for employees who enter the service of the commonwealth or any political subdivision thereof on or after the effective date of this section, the maximum salary upon which a retirement allowance may be bases shall be $125,000.
