BOSTON (WWLP) – After serving in the military, many veterans choose jobs in the public sector, so lawmakers believe it’s only right that their retirement benefits reflect that.
A bill filed by Northampton state senator Jo Comerford would extend the veterans’ retirement buyback program, from four years to 10-years.
If passed, the bill would allow veterans to add a portion of their military service time to their years of state service, which many people believe would strengthen the financial security of their retirement.
“If you served four years in the Navy you can buy back a portion of that time to cut the time it takes to retire because you’ve already been serving as a public servant,” Bill Lebeau said.
The U.S. Department of Veteran Affairs believes there will be about 95,000 veterans under the age of 64 living in Massachusetts by next year.
Both Washington and New Jersey have already passed similar legislation, and with bipartisan support many people are hoping to Massachusetts will be next.