Legislation

Articles about Legislation that may be useful to Massachusetts retirees.

NEW PENSION LAW ADOPTED

Effective For New Hires Beginning Next April

NOVEMBER 15, 2011: Pension Reform III (S2065) is now on the verge of becoming law. By a vote of 27-10 in the Senate and 152-0 in the House, today the Legislature enacted a change in the Commonwealth’s public retirement law that will place new employees in a “second tier” retirement plan.

Effective next April 2, all new hires within our state’s 105 retirement systems will close the door on early retirement and require most workers to stay in the system until age 67 in order to reach a full pension.

Lawmakers approve Mass. pension bill

Boston Globe

BOSTON—The Massachusetts Legislature has approved an overhaul of the state's pension system that would raise the minimum retirement age for future state employees to 60.

The compromise bill was accepted Tuesday by the Senate on a 27-10 vote and later on a 149-0 vote in the House.

COLA PROPOSAL BRUTALLY ATTACKED

COLA PROPOSAL BRUTALLY ATTACKED

Senate Increases State & Teacher Base

NOVEMBER 2011 VOICE: Heeding our Association’s call to use “Pension Reform III” as an opportunity to address longstanding benefit inequities, the Senate passed a provision within their proposal (S2018) increasing the state & teacher retirees’ COLA base by $1,000 to a new $13,000.

PENSION REFORM CLEARS SENATE

Phase III Targets New Hires

NOVEMBER 2011 VOICE: Citing the need to reign in pension costs in order to increase the Commonwealth’s bond rating, the Senate has passed a sweeping pension reform measure that serves as the third major overhaul of the state’s defined benefit pension law.

PENSION BILL IMPACTS RETIREMENT SYSTEMS

Legislation Contains Governance Reforms

NOVEMBER 7, 2011:  Pension reform legislation, now before a House & Senate Conference Committee, not only contains significant changes to retirement benefits for future employees, but also to the administration and governance of the Commonwealth’s 105 retirement systems.

HOUSE PASSES PENSION REFORM 3

COLA Base Increase & Retiree Benefits Included

NOVEMBER 4, 2011: Phase III of Pension Reform has now passed the House with a unanimous vote to further alter the public pension benefit structure for future employees. In addition to future benefit changes (affecting those first hired on or after July 1, 2012), the House plan seeks a series of benefit enhancements for current retirees.

REVISED BENEFIT STRUCTURE FOR NEW HIRES

House Looks To Reward Career Employees At 30 Years

NOVEMBER 4, 2011: A key component of the Pension Reform bill (H3787), passed by the House this past week, is the creation of a new retirement formula for those employees hired on or after July 1, 2012. Like the Senate, the House has also increased the full retirement age by 2 years for each group (67/62/57).

Local Insurance Reform Now Law

Local Insurance Reform Now Law

SEPTEMBER 2011 VOICE: The seven-year odyssey, that has been a string of municipal health insurance reform initiatives, has closed its latest chapter with the passage of a new law that could dramatically reshape how local insurance plans are negotiated and established.

NEXT UP: Pension Reform Phase 3

Association Urges COLA Inclusion

SEPTEMBER 2011 Voice: Determined to act this year on what might prove to be a generational change in our public retirement formula, Legislative Leaders are now drafting legislation that would serve as the third major pension reform measure passed in as many years.

Some reform is better than none at all

Newburyport News Editorial

Bottom line for the pension reform bill currently before the Legislature: Since changes would affect only those hired into government service after Jan. 1, 2012, anyone offered employment with the state who felt they could get a better deal elsewhere would be free to turn the job down.