Bill
H 2990
Overview: H 2990 - An Act relative to timely retirement paymentPurpose and Intent: This bill aims to ensure the timely payment of retirement benefits to individuals who have retire
Overview: H 2990 - An Act relative to timely retirement payment
Purpose and Intent: This bill aims to ensure the timely payment of retirement benefits to individuals who have retired from public service in Massachusetts. The goal is to address any delays or issues in the processing and disbursement of these critical payments.
Key Provisions:
- Requires the state's retirement systems to issue retirement benefit payments within a specified timeframe after an individual's retirement date
- Establishes penalties for retirement systems that fail to make timely payments
- Directs the state to provide interest payments to retirees for any late benefit payments
Affected Parties and Impacts:
- Individuals who have retired from public service in Massachusetts
- The state's various public retirement systems and their administration
Procedural and Timeline Considerations:
- The bill has been reported favorably by a committee and referred to the House Ways and Means Committee for further consideration.
- After the committee review, the bill may be scheduled for a vote by the full legislature.
Compiled from official sources — confirm details with the bill’s official record.
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