CT HB05479

Excludes overtime payments from retirement income calculations for state employees in tier II A, tier III, and tier IV retirement plans effective July 1, 2018.

Grandfathers state employees covered by the State Employees Bargaining Agent Coalition agreement dated June 25, 2017, allowing overtime inclusion in pension calculations until that agreement expires.

Removes overtime payments from the definition of "salary" used in pension calculations for newly-covered employees while maintaining longevity payments and vacation time payments.

Prohibits the inclusion of overtime payments in retirement income determinations from becoming a subject of collective bargaining negotiations on and after July 1, 2018.

All provisions take effect July 1, 2018.