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By Ms. Kaprielian of Watertown, petition (accompanied by bill, House, No. 2598) of Rachel Kaprielian and others relative to providing partial adjustment to retired teachers' pensions. Public Service. |
The Commonwealth of Massachusetts
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PETITION OF:
Pamela P. Resor
Timothy J. Toomey, Jr.
Barbara A. L'Italien
John J. Binienda
Jennifer M. Callahan
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In the Year Two Thousand and Seven.
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An Act providing partial adjustment to retired teachers' pensions. |
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 102 of chapter 32 of the General Laws, as appearing in the 1998
Official Edition, is hereby amended by inserting, after subsection (g) the
following subsection:—
(h) The pension paid to any retired teacher is hereby increased as follows:
(1) any former teacher retired for more than 30 years shall have his annual
retirement allowance, pension or annuity increased by an amount that is the
product of the number of years of creditable service multiplied by $15.00;
(2) any former teacher retired for more than 25 but less than 30 years shall
have his annual retirement allowance, pension or annuity increased by an amount
that is the product of the number of years of creditable service multiplied by
$12.00;
(3) any former teacher retired for more than 20 but less than 25 years shall
have his annual retirement allowance, pension or annuity increased by an amount
that is the product of the number of years of creditable service multiplied by
$11.00;
(4) any former teacher retired for more than 15 but less than 20 years shall
have his annual retirement allowance, pension or annuity increased by an amount
that is the product of the number of years of creditable service multiplied by
$9.00;
(5) any former teacher retired for more than 10 but less than 15 years shall
have his annual retirement allowance, pension or annuity increased by an amount
that is the product of the number of years of creditable service multiplied by
$7.00;
(6) any former teacher retired for more than 5 but less than 10 years shall
have his annual retirement allowance, pension or annuity increased by an amount
that is the product of the number of years of creditable service multiplied by
$5.00;
(7) any former teacher retired for more than 2 but less than 5 years shall have
his annual retirement allowance increased by an amount that is the product of
the number of years of creditable service multiplied by $2.00.
The above increases when added to a retired teacher’s retirement allowance,
pension or annuity are to form the basis of calculations for future cost of
living adjustments or other pension increases and are not to be considered a
substitute for any other cost of living adjustment or pension increase.