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CT HB05286

Bill

Official Source

Status

Introduced

2/18/2016

Primary Sponsor

Aging Committee

Click for details

Origin

House of Representatives

2016 General Assembly

AI Summary

  • Amends Section 5-156b of the general statutes effective July 1, 2016 regarding the Retirement Commission's actuarial duties and pension valuation procedures
  • Prohibits the Retirement Commission from adopting actuarial option tables that reduce pension payouts for married employees who retire over age seventy unless such tables are approved through collective bargaining
  • Requires the Retirement Commission to continue employing actuaries to conduct mortality, service, and compensation investigations at least every five years and asset/liability valuations at least every two years
  • Directs the Commission to adopt mortality and service tables based on actuarial investigations and certify annual contribution rates as required under state law

Legislative Description

An Act Concerning State Pension Payouts Based On Retiree Age.

Last Action

File Number 139

3/23/2016

Committee Referrals

Select Committee on Aging2/18/2016

Full Bill Text

No bill text available