An Act relative to the funding ratio of the public employee retirement system
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill addresses concerns about the funding ratio of Massachusetts’ public employee retirement system. It seeks to examine and potentially improve the system’s financial health, specifically focusing on ensuring it can meet future obligations to retirees. The bill directs the state to study the current funding ratio and explore potential adjustments to ensure the system’s long-term stability. It is part of a series of similar bills aimed at addressing pension system performance.
Key provisions
- Directs the state to conduct a study of the public employee retirement system’s funding ratio.
- Requires the study to assess the system’s ability to meet future obligations.
- Authorizes the legislature to consider adjustments to the system to improve its financial standing.
- Related to existing legislation S.2786 regarding pension system performance.
Who is affected
- Massachusetts public employees
- Retirees of the public employee retirement system
- Taxpayers of Massachusetts
- The Massachusetts Public Employee Retirement System
Notable changes
- The bill initiates a study to evaluate the current funding ratio.
- It opens the possibility of legislative action to address potential funding shortfalls.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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