CT SB01081

Reduces the investment return threshold for teachers' retirement cost-of-living allowances from 8.5% to 6.9% for retirees who retired before July 1, 2007, effective July 1, 2021.

Changes tiered cost-of-living allowance caps for members entering the system on or after July 1, 2007, based on pension asset returns: 1% cap if returns fall below 6.9%, 3% cap if returns are 6.9% to 9.9%, and 5% cap if returns exceed 9.9%.

Establishes a regionalization subaccount within the regional planning incentive account to receive revenue from Connecticut Lottery Corporation's online lottery games after paying for the debt-free community college program.

Directs excess online lottery revenue or an alternative amount from Public Act 19-117 to the Connecticut Teachers' Retirement Fund Bonds Special Capital Reserve Fund, with remaining funds used only for purposes recommended by the regionalization task force.