CT HB05461

Executive director of the Connecticut Airport Authority and unclassified employees reporting directly to the executive director may opt out of certain retirement and group welfare benefit provisions at their one-time irrevocable election.

Employees electing this option have their participation in standard retirement or group benefits plans suspended during their employment with the authority.

Connecticut Airport Authority may develop and implement alternative retirement plans and group welfare benefits for the executive director and direct reports who are exempted from standard provisions.

Alternative plans are exempt from supervision and oversight by the State Employees Retirement Commission, Comptroller, Attorney General, and Insurance Commissioner, but remain classified as Connecticut retirement plans for statutory purposes.

Effective upon passage.