1 of 1
SENATE DOCKET, NO. 520 FILED ON: 1/17/2023
SENATE . . . . . . . . . . . . . . No. 1627
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Brendan P. Crighton
_________________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to the funding ratio of the public employee retirement system.
_______________
PETITION OF:
NAME:DISTRICT/ADDRESS :Brendan P. CrightonThird Essex 1 of 1
SENATE DOCKET, NO. 520 FILED ON: 1/17/2023
SENATE . . . . . . . . . . . . . . No. 1627
By Mr. Crighton, a petition (accompanied by bill, Senate, No. 1627) of Brendan P. Crighton for
legislation relative to underperforming pension systems. Public Service.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1674 OF 2021-2022.]
The Commonwealth of Massachusetts
_______________
In the One Hundred and Ninety-Third General Court
(2023-2024)
_______________
An Act relative to the funding ratio of the public employee retirement system.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 Section 1. Sub-section (c1/2) of sub-section (8) of section (22) of Chapter 32 is amended
2by deleting the third sentence and inserting the following:
3 Any system found by the commission to have a funded ratio of less than fifty percent and
4an annual rate of return during the previous ten years that is at least three percentage points less
5than that of the PRIT Fund rate of return over the same period shall be declared underperforming
6by the commission.
7 Section 2. The final sentence of a sub-section (c 1/2) of sub-section (8) of section 22of
8Chapter 32 is amended by deleting in the final sentence the words: "Shall be in perpetuity." and
9inserting: "May not be revoked for five years."