If Joseph D. Ryan repays the required contributions and interest, the state retirement board would count his past MBTA police work toward his retirement allowance.
Ryan could count five years and five months of past MBTA police work toward his retirement allowance if he repays the required contributions and interest.
When Ryan retires or dies, the board would transfer his payments and interest to his retirement system and accept liability for the service credit, with an exception for certain disability or death benefits.
The state retirement board would credit Ryan with five years and five months of service toward his retirement allowance. The credit covers Ryan’s work as a Massachusetts Bay Transportation Authority police officer from August 4, 2003, to January 6, 2008. Ryan must pay into the state employees’ retirement system the contributions that would have been deducted from his pay, plus regular interest. The board may allow payment in one sum or installments. The bill would take effect upon passage.
At Ryan’s retirement or death, the state retirement board would transfer the money he paid, with accrued interest, to his retirement system and accept liability for the credited service. The liability would cover the same five years and five months of service, from August 4, 2003, to January 6, 2008. The board would transfer the money and accept liability upon request when Ryan retires under the listed retirement laws or a special act, or if he dies before retirement. The board would not bear liability if Ryan retires for accidental disability, or if his surviving spouse or dependents receive accidental-death or line-of-duty death benefits. The transfer and liability would apply upon Ryan’s retirement or death, if requested.
No hearings or votes scheduled.