An Act relative to veterans' buyback
Allows Massachusetts veterans to purchase military service time toward their public employee pension, combining service periods to enhance retirement benefits and eligibility.
Allows Massachusetts veterans to purchase military service time toward their public employee pension, combining service periods to enhance retirement benefits and eligibility.
HD 204 allows Massachusetts veterans to buy back service time into the state's public employee retirement system, crediting their military service toward pension eligibility and benefits calculations. This enables veterans to combine their military service with civilian public employment for retirement purposes, a common provision in many state pension systems.
Veterans often lose retirement credit during military service breaks in civilian employment. This bill recognizes military service as creditable time, potentially allowing veterans to retire earlier with higher benefits and reducing the financial penalty for their service gap. It affects both the veterans' retirement security and the long-term liability of the state pension fund.
Compiled from official sources — confirm details with the bill’s official record.
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