Retirement Changes -- Boston Pre Release

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Subject:

Retirement Changes

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Retirement Changes

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Date Posted: 14:59:01 04/11/13 Thu

Subject: MA Update on HB59 - Retirement Changes

Author:
MA Update on HB59 - Retirement Changes
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Date Posted: 17:37:38 03/19/13 Tue

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MA Update on HB59 - Retirement Changes
Submitted by csicuranza on February 21, 2013 - 11:16am.

Massachusetts Legislative Director Paul Larkham urges all New England PBA members to reach out to their elected representatives over the recent House Bill submitted by Governor Deval Patrick. HB59 is an act that provides healthcare benefits and major reforms therein.

The bill, if passed, will have an immediate impact on all our members in regards to their retirement. On the surface, it is reported as a change in the amount, percentage wise, that will be paid for your healthcare upon retirement. However, upon closer scrutiny, it also makes changes to when a member can retire. These changes affect all retirement Groups and Corrections Officers.

The actual Bill can be viewed through our website, along with links for member to contact their legislators, both House and Senate. The main highlighted changes within the Bill are as follows:

�Change in Years of Service: Increase By 5 Years for ALL Groups
�Group 1: From 55 Years old to 60 Years Old
�Group 2: From 50 Years old to 55 Years Old
�Group 4: From 45 Years old to 50 Years Old
�Changes minimum number of years to qualify for post employment health care benefits from 10 Years to 20 Years
�Municpal retirees' contributions frozen at level of Jan 1, 2013/today for 3 years from effective date. After 3 years, municipality can reduce contributions except for those retired at time of implementation of law.
Example of Compensation

75% Currently 80% Currently
20 Years = Minimum Benefit 50% 50%
23 Years = 1/3 Difference to (MAB) 58.33% 60%
27 Years = 2/3 Difference to (MAB) 66.66% 70%
30 Years = Maximum allowable benefit 75% 80%

Please post this for all members and encourage them to go to the Find My Legislator section on the following website: http://malegislature.gov/ and contact their Representatives and Senators to stop passage of this bill as written. We will continue to closely monitor and advise all members on status of this legislation.

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Replies:
Re: MA Update on HB59 - Retirement Changes (NT) -- What's the E board's response?, 07:34:26 03/20/13 Wed
Re: MA Update on HB59 - Retirement Changes -- I thought for sure there would be something..., 19:06:05 03/20/13 Wed
Re: MA Update on HB59 - Retirement Changes (NT) -- Where's our E board now?, 12:23:55 03/21/13 Thu
Re: MA Update on HB59 - Retirement Changes (NT) -- They have agreed with the state, no more 20/50 as it is now, 08:04:46 03/22/13 Fri
Re: MA Update on HB59 - Retirement Changes -- BEND OVER, 15:39:42 03/27/13 Wed
Re: MA Update on HB59 - Retirement Changes -- UPDATE, 15:46:19 03/27/13 Wed
This is only the beginning (NT) -- The Gov., 11:08:48 03/28/13 Thu
Re: MA Update on HB59 - Retirement Changes -- you loser should get this, 17:10:34 04/05/13 Fri
HB59 (NT) -- Support HB59 time to pay our fair share, 07:46:29 04/06/13 Sat
i sure am glad that evil republican baker didnt win (NT) -- COMMIEcrats really take care of unions alright, 16:51:54 04/10/13 Wed

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Replies:

Subject	Author	Date
Re: Retirement Changes	fatso (hocking)	00:06:48 01/14/14 Tue


oh look who laughing belly!	lots of fat! (laura)	17:27:07 01/29/14 Wed
Re: oh look who laughing belly! -- pete (fat), 06:22:54 02/04/14 Tue