By Mr. Bradley of Hingham, petition (accompanied by bill, House, No. 2427) of Garrett J. Bradley relative to the retirement of certain employees of the University of Massachusetts at Boston.  Public Service.

The Commonwealth of Massachusetts

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PETITION OF:

Garrett J. Bradley

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In the Year Two Thousand and Seven.

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An Act relative to the retirement of certain employees of the University of Massachusetts, Boston.

    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 chapter 32 of the General Laws or any other general or special law to the contrary, the State Board of Retirement shall, upon application of any former non-union professional of the University of Massachusetts Boston who retired between July 1, 2003 and December 31, 2004, inclusive, recalculate the retirement allowance of such applicant as if he had received a raise on July 1, 2001 in the amount specified below, but only for the portion of time coinciding with the applicant’s creditable service:

Starting Date of Raise                         COLA Increase                     Merit Increase

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July 1, 2001                                           3%          As determined by the University of Massachusetts Boston

Eligibility for the recalculated retirement allowance shall be conditioned upon payment into the state retirement system of an amount equal to the contributions that would have been paid into the retirement system based on the increased wages together with regular interest thereon.  The repayment shall be made in 1 lump sum or in installments as the State Board of Retirement shall prescribe.  Eligible retirees shall notify the State Board of Retirement individually in writing, within 18 months from the effective date of this act, of their intention to participate.