By Mr. Hedlund, a petition (accompanied by bill,
Senate, No. 1511) of Robert L. Hedlund, Garrett J. Bradley
and Tony Marcinkiewicz for legislation relative to the
retirement of non-union professionals at the University of
Massachusetts Boston.. Public Service.
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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. 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, 2003 , inclusive, recalculate the retirement allowance of such applicant as if he had received a succession of raises based upon the following schedule, but only for those portions of the schedule that coincide with the applicant’s creditable state service:
Starting Dates of Raises COLA Merit Total
July 1, 2001 3% 1% 4%
July 1, 2002 3% 1% 4%
July 1, 2003 3% 1% 4%
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 in writing, within 1 year from the effective date of this act.
