Massachusetts H2960 amends the state's General Laws to redefine "non-Commonwealth governmental unit" and adjust retirement contributions for certain.
Massachusetts H2960 amends the General Laws to redefine "non-Commonwealth governmental unit" as an employer whose employees are not Commonwealth employees and whose compensation is not paid by the Commonwealth. The bill also modifies the retirement contributions for certain employers, requiring them to remit their normal cost as determined by the actuary, based on the most recent actuarial valuation of the state retirement system. The actuary may consider various factors in determining this percentage, which must be reviewed at least every three years. The bill takes effect on July 1, 2025.
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