Bill S.1058

SENATE DOCKET, NO. 1928        FILED ON: 1/14/2009

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1058

The Commonwealth of Massachusetts

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PRESENTED BY:

James B. Eldridge

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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 DEFINE MEMBER CONTRIBUTIONS FOR RETIREMENT SYSTEMS.

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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 DEFINE MEMBER CONTRIBUTIONS FOR RETIREMENT SYSTEMS.


 

              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.    Section twenty-two of Chapter 32 of the General Laws, as appearing in the 2006 Official Edition, i s amended in sub-section (1) (b1/2) by:

by striking in the fifth sentence of such sub-section the words:  thirty-five thousand dollars and replacing it with the words:  fifty thousand dollars.

SECTION 2. By adding after the fifth sentence of said sub-section the following sentence:

Said amount shall increase each subsequent year by a sum equal to the increase in the U. S. consumer price index.