General Assembly Proposed Bill No. 448
January Session, 2011 LCO No. 1106
Referred to Committee on Appropriations
Introduced by:
SEN. FRANTZ, 36th Dist.
General Assembly
Proposed Bill No. 448
January Session, 2011
LCO No. 1106
Referred to Committee on Appropriations
Introduced by:
SEN. FRANTZ, 36th Dist.
AN ACT CONCERNING THE STATE EMPLOYEES RETIREMENT COMMISSION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 5-155a of the general statutes be amended to add the State Treasurer to the members of the State Employees Retirement Commission, to require that the State Employees Retirement Commission review reports issued by the National Association of State Retirement Administrators prior to adopting an assumed rate of return and to require that the State Employees Retirement Commission annually present to the joint standing committee of the General Assembly having cognizance of matters related to finance, revenue and bonding a status report regarding the fiscal health of the retirement system to include an examination of the actual return rate realized by the state of Connecticut's pension funds.
Statement of Purpose:
To help ensure that the State Employees Retirement Commission adopts a realistic assumed rate of return for its investments.