An Act establishing fairness in GIC premium contributions

This bill amends Massachusetts law to increase the maximum premium contribution limit for Group Insurance Commission (GIC) plans from 75% to 80% of an employee's gross salary. The change directly affects public sector employees and their employers who participate in the GIC retirement system by allowing a higher portion of their earnings to be deducted for retirement savings. By adjusting the specific percentage in the General Laws, the legislation expands the amount of money workers can contribute to their retirement accounts without altering other aspects of the GIC program.