Monday, April 13, 2009

Pension Reform Bill to be Debated Tomorrow

April is proving to be a busy month up here on Beacon Hill. The House has already taken up ethics and transportation bills, but tomorrow a pension reform bill will be debated on the House floor. The Republican Leadership Office plans to offer a number of amendments.

Here is a list of some of the amendments we will be offering and an explanation of what they do:

1. Takes away pension payments for those who have been convicted of a felony on or after the effective date of the legislation. The member loses his pension payments for the period of his incarceration and cannot at any time recover those lost payments.

2. Base pension payments upon the lifetime earnings of a member to ensure they receive a retirement allowance that is appropriate given their retirement contributions and service history. Currently, pension is based on a person’s highest three earning years. This amendment says the pension payments will be an average of the member’s salary history with the state.

3. Prevent individuals from receiving exorbitant retirement allowances, by prohibiting any retirement allowance from being more than four hundred percent of the average retirement allowance in the state. The average retirement allowance will be determined each year.

Be sure to visit to watch the House debate live.