CT HB07047

Allows members of the Teachers' Retirement System to retain their designated coparticipant and coparticipant option after retirement if divorced, provided a qualified domestic relations order is filed with the board (effective July 1, 2015).

Eliminates the $150,000 annual cap on professional fees for administering health benefit plans paid from the retired teachers' health insurance premium account (effective July 1, 2015).

Ceases crediting of interest on unclaimed contributions for inactive members of the Teachers' Retirement System after a 25-year notice period for vested members or 10-year period for nonvested members (effective July 1, 2015).

Removes references to transferring abandoned contributions to the pension reserve account and instead provides that no further interest shall be credited to abandoned amounts.