Bill H.2332 186th (2009 - 2010)

HOUSE DOCKET, NO. 2134        FILED ON: 1/14/2009

HOUSE  .   .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2332

The Commonwealth of Massachusetts

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PRESENTED BY:

Antonio F.D. Cabral

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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 to study certain reti rement costs.

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PETITION OF:

The Commonwealth of Massachusetts
 

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In the Year Two Thousand and Nine

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An Act to study certain retirement costs.


 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              The Public Employee Retirement Administration Commission is hereby directed to determine the annual prospective costs over the next 25 years to the state should pension contributions for members of the State Employees and Teachers Retirement Systems hired on or after July 1, 1996 be decreased to 9 percent of their annual salaries together with investment earnings estimated at the presumed rate of return.