Massachusetts House Bill H4662

Massachusetts 2023-2024 Regular Session

• Introduced: 12/26/23
• Refer: 12/26/23
• Refer: 5/20/24

Caption

Relative to creditable service for Charles G. Lawrence, a member of the Massachusetts Teachers’ Retirement System

Impact

If enacted, H4662 will directly impact the regulations concerning the eligibility of individual teachers within the Massachusetts Teachers' Retirement System for the alternative superannuation retirement benefit program. By enabling Lawrence to make a one-time or installment payment to the retirement system, the bill creates a pathway for him to access certain retirement benefits that may not have otherwise been available to him, thereby potentially improving his financial security in retirement.

Summary

House Bill H4662 aims to provide Charles G. Lawrence, a member of the Massachusetts Teachers’ Retirement System, eligibility for the alternative superannuation retirement benefit program. This bill seeks to amend the existing retirement laws by allowing an individual, under specific conditions, to participate in a retirement benefit plan designed for educators, thus potentially enhancing his retirement benefits. The bill emphasizes the need for immediate action by declaring it an emergency law necessary for the public convenience, which reflects the urgency surrounding the approval of the retirement benefits for Lawrence.

Contention

Notable points of contention in the discussion surrounding H4662 may revolve around targeted legislative benefits for individuals versus broader structural reforms for the entire retirement system. While supporters argue that such bills assist specific individuals in obtaining better retirement benefits, critics may raise concerns about equity and fairness in state-sponsored retirement benefits, questioning whether similar provisions should be available to other members of the retirement system.