An Act relative to a service based retirement option for Group 1 and Group 2 career employees

This bill allows career employees in Massachusetts classified as Group 1 or Group 2 to retire with a service-based pension after at least 30 years of service, regardless of their age. To qualify, these employees must agree to pay the full cost of their pension benefit upfront, which is calculated to provide a 75% benefit for 30 years of service or an 80% benefit for 32 or more years. The legislation permits workers to use their vacation time or personal allowance to cover this required payment.