This bill amends Chapter 40B of the General Laws by adding a new section that defines specific regional planning agencies as members of the state retirement system. The newly inserted Section 31 clarifies that these agencies, which include various regional planning commissions, will continue to be recognized as members of the state retirement system under Chapter 32. Additionally, the bill stipulates that these agencies will not be held liable for any past due contributions that were outstanding at the time the Act was passed.

Furthermore, the bill modifies paragraph (c) of sub-section 4 of section 28 of Chapter 32, ensuring that the defined agencies and their employees, who are members of the state employees' retirement system, will remit the employer's normal cost for benefits earned by these employees. The cost will be determined by an actuary based on payroll and other demographic factors, and it will be paid monthly into the pension reserve fund of the state employees' retirement system. The actuary is also required to review this percentage at least every three years to ensure its accuracy.

Statutes affected:
Bill Text: 32-28