HOUSE . . . . . . . . . . . . . . . No. 3475
[SIMILAR MATTER FILED IN PREVIOUS SESSION
In the Year Two Thousand Eleven
An Act RELATIVE TO THE LIMITING OF CERTAIN PENSION BENEFITS.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Paragraph (a) of sub-section (2) of section 10 of c.32 of the General Laws as appearing in the 2004 edition is hereby amended by inserting after the first sentence the following:—
“The total normal yearly amount of the retirement allowance of any member as determined in accordance with the provisions of this section, shall not exceed four fifths of the average annual rate of his regular compensation received 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 or not consecutive, constituting his last three years of creditable service preceding retirement, whichever is the greater.”