CT HB05402

Allows up to $150,000 annually in professional fees for administering health benefit plans to be paid from the retired teachers' health insurance premium account instead of general appropriations.

Clarifies that surviving spouses and disabled dependents of retired teachers can participate in health benefit plans without receiving benefits from the system themselves.

Establishes that health benefit plan contributions exceeding $500,000 annually are credited to a separate retired teachers' health insurance premium account to fund plan payments and administrative costs.

Adds provisions allowing members who received erroneous benefit estimates on or after November 1, 2008, to receive benefits based on the estimate if they relied on it to resign and retire, provided the error was material (10% or greater difference).

Allows overpaid retirees to have repayment waived if the board determines they could not reasonably have detected the error and repayment would cause hardship.