Massachusetts House Bill H4308

Massachusetts 2023-2024 Regular Session

• Introduced: 4/6/23
• Refer: 4/6/23
• Refer: 2/1/24
• Refer: 4/8/24

Caption

Providing creditable service for certain teachers

Impact

If enacted, this bill would have a significant impact on the retirement benefits of affected teachers. By allowing up to four years of creditable service for those who meet the criteria, the bill aims to recognize and support teachers who faced job loss due to market or administrative conditions. This addition could provide a vital safety net for educators and could ultimately influence their decision to remain in the profession or retire at a later stage.

Summary

House Bill 4308, presented by Representative Daniel J. Hunt, proposes amendments to the General Laws regarding the retirement system for teachers in Massachusetts. Specifically, it aims to allow certain teachers who lost their jobs due to workforce reductions to receive creditable service towards their retirement. This would specifically apply to any teacher who had established membership in the Massachusetts contributory retirement system and was subsequently employed as a teacher in a governmental unit, giving them credit for unemployment on a proportionate basis as determined by the retirement board.

Contention

While the bill carries intentions of support and recognition for educators, it could also evoke discussion regarding funding and the financial implications for the retirement system. Stakeholders may express concern about how this extension of credit will be funded and what it means for the overall stability of the teachers' retirement system. Furthermore, the balancing act between the needs of current teachers and the overarching financial strategy of the retirement fund could lead to debates among lawmakers and education advocates.