An Act relative to certain option B and option C retirees

This bill increases monthly retirement allowances for certain pre-2004 retirees who chose lower-option benefits (Option B or C) under Massachusetts state retirement systems. Specifically, Option C retirees receive $200 (state employees) or $290 (teachers) more per month, while Option B retirees get $66 (state employees) or $97 (teachers) more, with other systems capped at $200. Retirement systems must approve the changes via board vote (state systems are already accepting them), and the increases apply prospectively from the bill's effective date without retroactive payments. The policy directly affects retirees in state employees', teachers', and other chapter 32/34B retirement systems who retired before July 1, 2004 under these specific benefit options.