By Mr. Tolman, a petition (accompanied by bill, Senate,
No. 1667) of Steven A. Tolman for legislation to provide
for creditable service for members of redevelopment
authorities. Public Service.
|
By Mr. Tolman, a petition (accompanied by bill, Senate,
No. 1667) of Steven A. Tolman for legislation to provide
for creditable service for members of redevelopment
authorities. Public Service.
|
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 (1) of section 4 of chapter 32 of the General Laws, as
appearing in the 1998 Official Edition, is hereby amended by inserting after
paragraph (O½) the following paragraph:—
(O¾) Any member eligible to receive a retirement benefit
pursuant to the provisions of this chapter, who served as a member of a
redevelopment authority for a city or town, in which position he received no
compensation, may establish credit for such service by depositing in the
annuity savings fund of the system of which he is a member a sum equal to the
amount which would have been paid into such fund during such period if such
position had been compensated at the rate of $2,500 per year, plus regular
interest to the date of payment. This paragraph shall
apply only to persons who served as a member of a redevelopment authority in a
city or town that accepts this paragraph, in a town or city by a vote of the
local retirement board or any “town known as the city of” by its retirement
board, provided however, that the provisions of this paragraph shall not apply
to any member first elected and/or appointed on or after January 1, 1990.
