Massachusetts H2956 amends veteran allowance for public retirees, increasing yearly allowance.

Massachusetts H2956 amends the veteran allowance for public retirees by increasing the yearly allowance from $15 to $50 for each year of creditable service, up to a maximum of $1,000. This allowance applies to members of Group 1, Group 2, or Group 4 who are veterans. Acceptance of this provision by a retirement system requires a majority vote of the board and approval from the legislative body. The state teachers’ and state employees’ retirement systems are deemed to have accepted this provision. The changes are prospective and do not entitle members to retroactive benefits.

Massachusetts H2956 amends veteran allowance for public retirees, increasing yearly allowance.

Massachusetts H2956 amends the veteran allowance for public retirees by increasing the yearly allowance from $15 to $50 for each year of creditable service, up to a maximum of $1,000. This allowance applies to members of Group 1, Group 2, or Group 4 who are veterans. Acceptance of this provision by a retirement system requires a majority vote of the board and approval from the legislative body. The state teachers’ and state employees’ retirement systems are deemed to have accepted this provision. The changes are prospective and do not entitle members to retroactive benefits.