General Assembly Proposed Bill No. 6466
January Session, 2017 LCO No. 1954
*01954*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
REP. KLARIDES, 114th Dist. REP. CANDELORA, 86th Dist. REP. HOYDICK, 120th Dist. REP. O'DEA, 125th Dist. REP. O'NEILL, 69th Dist.
General Assembly
Proposed Bill No. 6466
January Session, 2017
LCO No. 1954
*01954*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
REP. KLARIDES, 114th Dist.
REP. CANDELORA, 86th Dist.
REP. HOYDICK, 120th Dist.
REP. O'DEA, 125th Dist.
REP. O'NEILL, 69th Dist.
AN ACT CONCERNING THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to require that (1) any municipal employee who is a member of the municipal employees' retirement system and was hired on or after July 1, 2016, participate in a municipal employee defined contribution plan for which the State Comptroller shall establish a contribution schedule, in lieu of any defined benefit retirement program, and (2) the State Comptroller establish a voluntary process for municipal employees hired prior to or on June 30, 2016, to convert from a defined benefit retirement program to the municipal employee defined contribution plan.
Statement of Purpose:
To provide relief to municipalities.