SENATE DOCKET, NO. 1710 FILED ON: 1/21/2011
SENATE . . . . . . . . . . . . . . No. 1334
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Thomas M. McGee
_______________
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:
An Act relative to retirement allowances of certain married persons..
_______________
PETITION OF:
Name: | District/Address: |
Thomas M. McGee | Third Essex and Middlesex |
SENATE DOCKET, NO. 1710 FILED ON: 1/21/2011
SENATE . . . . . . . . . . . . . . No. 1334
By Mr. McGee, petition (accompanied by bill, Senate, No. 1334) of McGee for legislation relative to retirement allowances of certain married persons [Joint Committee on Public Service]. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE
SENATE
, NO. 1113 OF 2009-2010.]
The Commonwealth of Massachusetts
An Act relative to retirement allowances of certain married persons..
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. Notwithstanding the provisions of any general or specific law to the contrary any person who is receiving a retirement allowance pursuant to sections 1 to 28 of chapter 32 of the general laws and whose retirement allowance was calculated pursuant to Option (c) of chapter 12 of said chapter 32, upon adoption of this section by the appropriate retirement board, shall be entitled to a recalculation of his retirement allowance based on an updated mortality table adopted pursuant to section 336 of chapter 149 of the Acts of 2004. Prior to adoption of this section, a retirement system shall conduct an actuarial study to determine the costs and liabilities of recalculating option (c) retirement allowances. Upon adoption of this section, a retirement system shall notify any eligible persons of this option and such persons shall request, in writing, within 180 days of such notification, that a recalculation of his retirement allowance be made. Such recalculation may be made retroactively to any date on or after the acceptance of this act, provided that any system responsible for payment of the retirement allowance shall pay to such person, in one lump sum, the difference between the amount paid and the amount due under the recalculated retirement allowance.
