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By Mr. Falzone of Saugus (by request), petition (accompanied by bill, House, No. 2492) of John Andreucci relative to retirement benefits for certain teachers. Public Service. |
The Commonwealth of Massachusetts
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PETITION OF:
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By Mr. Falzone of Saugus (by request), petition (accompanied by bill, House, No. 2492) of John Andreucci relative to retirement benefits for certain teachers. Public Service. |
The Commonwealth of Massachusetts
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PETITION OF:
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In the Year Two Thousand and Seven.
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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 Subdivision (4) of Section 5 of chapter 32 of the General
Laws, as appearing in the 2000 Official Edition, is hereby further
amended by adding the following paragraph:—
(iii) Notwithstanding any general or special law to the contrary,
any former teacher who retired prior to September 20, 2000
who is collecting a teacher’s pension shall be eligible to enroll as
a member in service of the alternative superannuation retirement
benefit program and purchase additional years of service
according to the formula under this chapter; provided however,
that the percentage increase added to the pension fund shall be
effective the month following receipt by the commonwealth of
full payment for the benefit not to exceed 80 percent of the
retiree’s normal base pension. Such repayment to be made in one
sum or in installments as the state teachers retirement system
shall prescribe.