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SENATE DOCKET, NO. 2849 FILED ON: 11/9/2023
SENATE . . . . . . . . . . . . . . No. 2522
The Commonwealth of Massachusetts
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PRESENTED BY:
Barry R. Finegold
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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 creditable service of former employees of the Massachusetts Development
Finance Agency.
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PETITION OF:
NAME:DISTRICT/ADDRESS :Barry R. FinegoldSecond Essex and Middlesex 1 of 1
SENATE DOCKET, NO. 2849 FILED ON: 11/9/2023
SENATE . . . . . . . . . . . . . . No. 2522
By Mr. Finegold, a petition (accompanied by bill) (subject to Joint Rule 12) of Barry R. Finegold
for legislation relative to the creditable service of former employees of the Massachusetts
Development Finance Agency. Public Service.
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act relative to the creditable service of former employees of the Massachusetts Development
Finance Agency.
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. Notwithstanding any general or special law to the contrary, any former
2employee of the Massachusetts Development Finance Agency who has established membership
3in a retirement system as provided by chapter 32 of the General Laws may, while a member in
4service thereof, be credited with service for such previous employment, by paying into the
5annuity savings fund of the system in one sum, or in installments, upon such terms as the board
6may prescribe, an amount equal to that which would have been withheld as retirement
7deductions from the employee’s regular compensation for such previous employment, or most
8recent portion thereof, as the employee shall elect, together with buyback interest thereon, had
9such service been rendered in the governmental unit by which he or she is presently employed
10and in a position subject to the provisions of this chapter.
11 SECTION 2. This act shall take effect upon its passage.