Bill H.2476 186th (2009 - 2010)

HOUSE DOCKET, NO. 1591        FILED ON: 1/13/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2476

The Commonwealth of Massachusetts

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PRESENTED BY:

Bradley H. Jones, Jr.

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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 pension equality.

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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 relative to pension equality.


 

              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. P aragraph (a) of subdivision (2) of section 5 of chapter 32 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by striking out , in lines 84 to 98 inclusive, the words “ (a) The normal yearly amount of the retirement allowance for any member cl assified in Group 1, Group 2 or Group 4, who has paid the full amount of regular deductions on the total amount of regular compensation, including deductions specified in subdivision (3A) of section three, and in paragraph (d) of subdivision (1) of section twenty-two, shall, subject to the limitations set forth in this section, be based on the average annual rate of regular compensation received by such member during any period of three consecutive years of creditable service for which such rate of compensa tion was the highest, or on the average annual rate of regular compensation received by such member during the period or periods, whether consecutive or not, constituting his last three years of creditable service preceding retirement, whichever is the gre ater, and shall be computed according to the following table based on the age of such member and his number of years and full months of creditable service at the time of his retirement.” and inserting in place thereof the following words:-

(a) F or those who entered service prior to January 1, 20 10 , t he normal yearly amount of the retirement allowance for any member classified in Group 1, Group 2 or Group 4, who has paid the full amount of regular deductions on the total amount of regular compensation, inc luding deductions specified in subdivision (3A) of section three, and in paragraph (d) of subdivision (1) of section twenty-two, shall, subject to the limitations set forth in this section, be based on the average annual rate of regular compensation receiv ed by such member during any period of three consecutive years of creditable service for which such rate of compensation was the highest, or on the average annual rate of regular compensation received by such member during the period or periods, whether co nsecutive or not, constituting his last three years of creditable service preceding retirement, whichever is the greater, and shall be computed according to the following table based on the age of such member and his number of years and full months of cred itable service at the time of his retirement . For those who entered service on or after January 1, 20 10 , the normal yearly amount of the retirement allowance for any member classified in Group 1, Group 2 or Group 4, who has paid the full amount of regular deductions on the total amount of regular compensation, including deductions specified in subdivision (3A) of section three, and in paragraph (d) of subdivision (1) of section twenty-two, shall, subject to the limitations set forth in this section, be base d on the average annual rate of regular compensation received by such member during all of said member’s years of employment, with the average rate of regular compensation for each year adjusted for inflation index from that year to the year of retirement of said member, and shall be computed according to the following table based on the age of such member and his number or years and full months of creditable service at the time of his retirement.