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.