CT SB00704

Allows retired members who accept employment with the state or non-participating municipalities to continue receiving retirement allowances and earn credits in the state retirement system, but prohibits earning credits in municipal retirement systems.

Permits retired members who accept employment with their former municipality or other participating municipalities to earn credits in the municipal employees' retirement system.

Retirees receiving no pension during reemployment if working less than 20 hours per week or no more than 90 working days per calendar year.

Members reemployed beyond 90 working days in a calendar year must reimburse the Municipal Employees' Retirement Fund for payments received during the initial 90-day period.

Adds option allowing reemployed members to opt out of participating in the municipal employees' retirement system during their period of reemployment.