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FINAL REPORT OF
THE SPECIAL COMMISSION TO STUDY THE
MASSACHUSETTS CONTRIBUTORY RETIREMENT SYSTEMS
THE SPECIAL COMMISSION TO STUDY THE
MASSACHUSETTS CONTRIBUTORY RETIREMENT SYSTEMS
For anyone that has actually tried to read M.G.L. 32, you already know how confusing and difficult it is to try and understand the Massachusetts Laws which govern our retirement. This report, which has caused a lot of underserved controversy, is probably the closest thing to a plain english explanation we will ever see. I encourage you to take some time to read this report. It does a good job of explaning the system as it now stands, and makes some sound recommendations for long overdue changes. And By The Way, these changes are fair, and necessary, in order for the retirement system to remain credible and solvent. You've probably heard some rumors about reclassification and cutting of benefits. Please put them aside and see for yourself what is being proposed, and remember, none of this has been enacted into law. IT IS ONLY A PROPOSAL.
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An Act, Providing Responsible Reforms In The Pension System, was passed into Law on June 10, 2009. As typical of all bills, this one is no easier to understand than any other, and is useless without reference to the sections of M.G.L. 32 that it refers to. In an attempt to help the reader understand what changes have actually taken place, We have provided EDITED versions of applicable M.G.L. 32 sections in the links below. Language that has been stricken is displayed in RED with a strikethrough. Language that was added is displayed in BLUE. We've made every effort to insure these changes are displayed accurately, but cannot be responsible for errors or ommissions. For legal purposes, please see the Official State Publications and consult an attorney.
Don't want to wait til you're 55 to reitre? Read this .....
Spousal Benefit - Piggyback Retirement
