About These Bills
Educators provide dedicated public service while often earning significantly less than workers in the private sector with comparable degrees and qualifications. That is why the Commonwealth promises retired educators and other public employees a secure and dignified retirement. To ensure this promise is kept, this legislation addresses harmful provisions and practices and increases economic security for current and future retirees. In doing so, it also makes the education profession a more attractive and financially feasible career for prospective educators.
The Bills
An Act to provide fair and affordable public retiree benefits
Lead Sponsors: Rep. Dan Donahue (D-Worcester) | Sen. Julian Cyr (D-Truro)
H.2812 | S.1817 | Fact Sheet
- Ensures increased economic security for retired public employees, including by raising the base on which the annual state pension COLA is calculated. The COLA base has not been raised in over a decade.
An Act relative to benefits for teachers / An Act relative to teacher retirement election
Lead Sponsors: Rep. Alice Peisch (D-Wellesley) | Sen. Liz Miranda (D-Boston)
H.2932 | S.1884 | Fact Sheet | More Information
- Allows teachers hired before July 1, 2001, who did not provide a written election to participate in RetirementPlus, to have a second opportunity to do so.
An Act relative to retirement equity for parenting teachers
Lead Sponsors: Rep. Simon Cataldo (D-Concord) & Rep. Sean Garballey (D-Arlington) | Sen. John Velis (D-Westfield)
H.2769 | S.1921 | Fact Sheet
- Allows full-time teachers with at least 20 years of service who reduced their work time to meet the demands of child-rearing or family care and still worked at least half-time to buy back up to five years to count toward their retirement.
An Act requiring administrators of certain retirement plans to disclose conflicts of interest
Lead Sponsors: Carol Doherty (D-Taunton) | Sen. Mike Brady (D-Brockton)
H.2809 | S.1794 | Fact Sheet
- Requires that municipal employees be provided with information on the fee ratio and return, net of fees, upon their enrollment in a 403b retirement plan as well as information on the compensation paid to any person who is providing investment advice.
An Act relative to the SMART Plan
Lead Sponsors: State Treasurer Deb Goldberg (D-Brookline)
H.39 | Fact Sheet
- Automatically enrolls new state employees in the state’s deferred compensation plan (the SMART plan) and allows other governmental bodies to elect to automatically enroll new employees in their deferred 457 compensation plans. The state’s SMART plan provides public employees with quality, low-fee defined contribution retirement options.
