Connecticut 2024 2024 Regular Session

Connecticut Senate Bill SB00377 Introduced / Fiscal Note

Filed 04/22/2024

                    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.