An Act relative to the creditable service of former employees of the Massachusetts Development Finance Agency
Generates a plain-language summary of the bill text and history.
| Date | Branch | Action |
|---|---|---|
| 11/26/2025 | Senate | Bill reported favorably by committee and referred to the committee on Senate Ways and Means |
| 9/8/2025 | Joint | Hearing scheduled for 09/15/2025 from 01:00 PM-05:00 PM in A-1 |
| 2/27/2025 | House | House concurred |
| 2/27/2025 | Senate | Referred to the committee on Public Service |
No additional cosponsors.
| Committee | Recommendation | Vote |
|---|---|---|
| J23 | Favorable | 1 entries |
Notwithstanding any general or special law, rule or regulation to the contrary, any former employee of the Massachusetts Development Finance Agency established pursuant to chapter 23G who has established membership in a retirement system as provided by chapter 32 of the General Laws may, while a member in service thereof, be credited with service for such previous employment of not more than 5 years by paying into the annuity savings fund of the system in 1 sum or installments, upon such terms as the appropriate retirement board may prescribe, an amount equal to that which would have been withheld as retirement deductions from the employee’s regular compensation for such previous employment, or most recent portion thereof, as the employee shall elect, together with buyback interest thereon, had such service been rendered in the governmental unit by which they were employed at the time of vesting pursuant to chapter 32 and in a position subject to the provisions of this chapter.
Section 1 is hereby repealed.
Section 2 shall take effect 2 years after enactment.
SECTION 1. Notwithstanding any general or special law, rule or regulation to the contrary, any former employee of the Massachusetts Development Finance Agency established pursuant to chapter 23G who has established membership in a retirement system as provided by chapter 32 of the General Laws may, while a member in service thereof, be credited with service for such previous employment of not more than 5 years by paying into the annuity savings fund of the system in 1 sum or installments, upon such terms as the appropriate retirement board may prescribe, an amount equal to that which would have been withheld as retirement deductions from the employee’s regular compensation for such previous employment, or most recent portion thereof, as the employee shall elect, together with buyback interest thereon, had such service been rendered in the governmental unit by which they were employed at the time of vesting pursuant to chapter 32 and in a position subject to the provisions of this chapter. SECTION 2. Section 1 is hereby repealed. SECTION 3. Section 2 shall take effect 2 years after enactment.