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| 2 | 2 | | HOUSE DOCKET, NO. 818 FILED ON: 1/13/2025 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 2835 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Dennis C. Gallagher |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act relative to funding contributions under state/teachers' and local pension systems. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Dennis C. Gallagher8th Plymouth1/13/2025 1 of 2 |
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| 16 | 16 | | HOUSE DOCKET, NO. 818 FILED ON: 1/13/2025 |
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| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 2835 |
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| 18 | 18 | | By Representative Gallagher of Bridgewater, a petition (accompanied by bill, House, No. 2835) |
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| 19 | 19 | | of Dennis C. Gallagher relative to the Commonwealth's pension liability fund. Public Service. |
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| 20 | 20 | | The Commonwealth of Massachusetts |
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| 21 | 21 | | _______________ |
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| 22 | 22 | | In the One Hundred and Ninety-Fourth General Court |
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| 23 | 23 | | (2025-2026) |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | An Act relative to funding contributions under state/teachers' and local pension systems. |
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| 26 | 26 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 27 | 27 | | of the same, as follows: |
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| 28 | 28 | | 1 SECTION 1. Section 22C of chapter 32 of the General Laws is hereby amended by |
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| 29 | 29 | | 2inserting at the end thereof the following new subdivision:- |
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| 30 | 30 | | 3 (5) In each fiscal year that there is no unfunded commonwealth pension liability the |
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| 31 | 31 | | 4comptroller shall transfer from the General Fund, without further appropriation, to the |
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| 32 | 32 | | 5Commonwealth’s Pension Liability Fund an additional amount that equals the normal cost of all |
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| 33 | 33 | | 6future benefits for which the commonwealth is obligated in said fiscal year. |
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| 34 | 34 | | 7 SECTION 2. Section 22D of chapter 32 of the General Laws is hereby amended by |
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| 35 | 35 | | 8inserting at the end thereof the following new subdivision:- |
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| 36 | 36 | | 9 (12) In the event that the unfunded pension liability of a system is reduced to zero in a |
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| 37 | 37 | | 10fiscal year, the system’s funding schedule shall be designed to require an additional |
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| 38 | 38 | | 11appropriation in said fiscal year to the pension reserve fund that equals the normal cost of all |
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| 39 | 39 | | 12future benefits for which the system is obligated in said fiscal year. 2 of 2 |
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| 40 | 40 | | 13 SECTION 3. The provisions of this act shall take effect on July 1, 2025. |
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