Measure Would Allow Eligible Teachers to Purchase Full-Time Service Credit for Years Spent Working Part-Time to Raise Children
State Senator Nick Collins announced that the Massachusetts Senate adopted an amendment to the economic development bill that would provide greater retirement equity for teachers who reduced their hours to raise children.
The amendment was sponsored by Senator John Velis and cosponsored by Collins and a bipartisan group of senators. Under the proposal, eligible members of the Massachusetts Teachers’ Retirement System and teachers who are members of the Boston Retirement System could purchase full-time creditable service for periods when they reduced their employment from full time to part time for the primary purpose of child-rearing.
To qualify, a teacher would need to have returned to full-time employment and completed at least 20 years of creditable service. Eligible teachers could purchase up to five years of full-time service credit by paying the difference between the retirement contributions made during their part-time service and the amount that would have been contributed through full-time employment, plus applicable interest.
“Teachers spend their careers supporting the next generation, and they deserve a retirement system that treats them fairly,” said Senator Nick Collins. “No educator should be placed at a lasting disadvantage because they reduced their hours to care for their children. This amendment recognizes that service and gives eligible teachers a fair opportunity to receive the retirement credit they earned.”
The Senate adopted the amendment as part of its version of the Economic Development Bond bill.
A six-member conference committee will now reconcile the differences between the bills passed by the Senate and House, respectively, before a final bill is sent to the Governor for approval.
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