OFFICE OF FISCAL ANALYSIS Legislative Office Building, Room 5200 Hartford, CT 06106 (860) 240-0200 http://www.cga.ct.gov/ofa SB-377 AN ACT CONCERNING THE TEACHERS' RETIREMENT BOARD'S RECOMMENDATIONS FOR CHANGES TO THE TEACHERS' RETIREMENT SYSTEM STATUTES. Primary Analyst: NN 4/16/24 Contributing Analyst(s): Reviewer: RW OFA Fiscal Note State Impact: Agency Affected Fund-Effect FY 25 $ FY 26 $ FY 27 $ Teachers' Retirement Bd. GF - Savings None None 50,000 Note: GF=General Fund Municipal Impact: None Explanation The bill realigns election dates resulting in savings of approximately $50,000 quadrennially beginning in FY 27. The bill also makes various technical changes to the statutes governing the Teachers' Retirement System that serve to clarify the administration of benefits and do not result in a fiscal impact. The Out Years The annualized ongoing fiscal impact identified above would continue quadrennially thereafter into the future subject to inflation.