CT HB05430

Modifies mandatory contribution percentages for the Teachers' Retirement System, setting contributions at seven percent regular and 1.25 percent health contributions from January 1, 2018 to June 30, 2018.

Reduces mandatory contributions back to six percent regular and 1.25 percent health contributions effective July 1, 2018 and thereafter.

Removes language requiring actuarial determinations to assume six percent regular contributions instead of seven percent for fiscal years ending June 30, 2020 and beyond.

Requires the Teachers' Retirement Board to request a revised actuarial valuation by June 1, 2018 for the fiscal year ending June 30, 2019 based on the new contribution percentages.