General Assembly Proposed Bill No. 746
January Session, 2017 LCO No. 3241
*03241*
Referred to Committee on LABOR AND PUBLIC EMPLOYEES
Introduced by:
SEN. FASANO, 34th Dist.
General Assembly
Proposed Bill No. 746
January Session, 2017
LCO No. 3241
*03241*
Referred to Committee on LABOR AND PUBLIC EMPLOYEES
Introduced by:
SEN. FASANO, 34th Dist.
AN ACT AMENDING THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM FOR NEWLY HIRED EMPLOYEES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That title 7 of the general statutes be amended to make the following changes, applicable to newly hired municipal employees covered by the Municipal Employee Retirement System: (1) Exclude overtime from retirement benefit calculations, (2) increase the retirement age to sixty-two, (3) limit cost-of-living increases to between zero and four per cent, (4) increase employee contributions, and (5) create a tier consistent with state employee retirement system tier III for new eligible employees.
Statement of Purpose:
To implement pension reform under the Municipal Employee Retirement System for newly hired employees.