By Mr. Toomey of Cambridge, petition (accompanied by resolve, House, No. 2768) of Timothy J. Toomey, Jr., for an investigation by a special commission (including members of the General Court) relative to the superannuation retirement allowance of employees classified in Group 1 of the public employees retirement system.  Public Service.

 

The Commonwealth of Massachusetts

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PETITION OF:

 

Timothy J. Toomey, Jr.

 

 

 

 

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In the Year Two Thousand and Seven.

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 Resolve providing for an investigation and study of group 1 benefits for public employees retirement system.

 

    Resolved,

 

Resolved, That a special commission is hereby established to investigate and study the calculation of superannuation retirement allowances for members classified as Group 1 under chapter 32 of the General Laws. Said investigation and study shall include, but not be limited to, an analysis of alternative calculations of said allowances, including comparison of member eligibility, vesting, portability, the contribution rate of members, other benefits, and the effects on accrued liabilities and costs attributable to such alternative calculations. Said commission shall consist of nine members as follows: the house and senate chairmen of the joint committee on public service, who shall serve as co-chair of the commission, the house and senate chairmen of the committees on ways and means, or their designee, a representative of the Massachusetts Municipal Association, a representative of the Massachusetts Association of Contributory Retirement Systems, the chairman of the State Teacher’s Retirement Board and the State Retirement Board, or their designee, and the chairman of the Public Employee Retirement Administration Commission, or his designee. Said commission shall report to the general court the results of its study, if any, together with drafts of legislation necessary to carry such recommendations into effect, by filing the same with the clerk of the house of representatives on or before the thirty-first of December, two thousand and one.