In 2001, Massachusetts introduced RetirementPlus, a program that allows teachers to retire a little earlier if they increase the amount they contribute to their pension to 11 percent of their salary. Teachers hired before July 1, 2001, needed to elect to join RetirementPlus when it was enacted through an often-confusing process that led many to believe they were automatically enrolled, only later learning that they were not.

Last July the Massachusetts House unanimously  passed a bill H.4361 (formerly H.2932) that would create a fair and clear pathway for teachers hired before July 1, 2001, to have a new opportunity to join RetirementPlus and the Senate recently unanimously passed an amended version of the bill. The Senate's passage of the bill was a major step forward but its version changed the way the buyback cost is calculated, resulting in a significant increase in cost to members.  

It is important to keep in mind that there are further opportunities for this bill to be amended (and hopefully improved) as it moves forward. The new bill has been sent to the House where they will either agree to the amendment, further amend the bill, or insist on their version and establish a conference committee to work out the differences. It is vital that the final bill, which will come out of negotiations between the House and Senate, provides a fair (and affordable) fix for RetirementPlus.

CALL AND EMAIL YOUR STATE LEGISLATOR NOW! Ask them to support a Fair (and affordable) Fix for RetirementPlus in the final version of H.4361. You can find your legislators' phone numbers by clicking here.

More information is available here.