Massachusetts S1813 amends the definition of an underperforming pension system and modifies the revocation period for certain funding ratios.

Massachusetts S1813 modifies the criteria for determining if a public employee retirement system is underperforming. It specifies that a system with a funding ratio below 50% and an annual rate of return at least three percentage points less than the PRIT Fund's over the previous ten years will be declared underperforming. The bill also changes the revocation period for certain funding ratios, allowing them to remain in effect for up to five years instead of being permanent.

Massachusetts S1813 amends the definition of an underperforming pension system and modifies the revocation period for certain funding ratios.

Massachusetts S1813 modifies the criteria for determining if a public employee retirement system is underperforming. It specifies that a system with a funding ratio below 50% and an annual rate of return at least three percentage points less than the PRIT Fund's over the previous ten years will be declared underperforming. The bill also changes the revocation period for certain funding ratios, allowing them to remain in effect for up to five years instead of being permanent.