2021 Legislation
Public Act 21-186
AN ACT CONCERNING VARIOUS REVISIONS TO THE TEACHERS' RETIREMENT SYSTEM.
CGA Summary of 2021 Legislation Changes
Sec. 1 – Modifying C.G.S. 10-183b Definitions
- This act modifies the following terms for administrative purposes: (13) Disabled (16), Formal application for Disability.
Sec. 2 – Modifying C.G.S. 10-183f Benefit Eligibility
- This act clarifies existing language and adds new language to support IRS code changes.
Sec. 3 – Modifying C.G.S. 10-183i. Member's Voluntary Contributions. Limitations
- This act specifies that the term "voluntary contributions" are after-tax contributions withheld by the member's employer from their annual salary.
Sec. 4 – Modifying C.G.S. 10-183l. Teachers' Retirement Board. Valuation of Fund
- This act amends benefit addresses credited service, retirement age, and IRS code updates.
Sec. 5 – Modifying C.G.S. 10-183p. Credit for Time Served in Other State Retirement Systems
- This act provides clarification regarding the purchase of service credit from other retirement systems.
Sec. 6 – Modifying C.G.S. 10-183v. Reemployment of Teachers
- This act clarifies the Post Retirement Reemployment (PRR) process and codifies guidelines used by school districts, retirees and members to participate in the PRR program.
Sec. 7 – Modifying C.G.S. 10-183y. Appeal to Board for Reconsideration
- This act clarifies that a member must provide the legal basis for any appeal.
Sec. 8 – Modifying C.G.S. 10-183aa. Disability Allowance
- This act provides guidelines for submitting applications to the board for disability allowances.
Sec. 9 – Creating C.G.S. 10-183uu Member's Separate Rollover Account
- This act establishes a new tax deferred rollover account for active, inactive and disabled members who submit a formal application of retirement, as defined in section 10-183b of the general statutes, with the intent to annuitize eligible funds.
Public Act 21-178
AN ACT CONCERNING THE INTEREST RATE RELATING TO TEACHERS' RETIREMENT SYSTEM COST-OF-LIVING ALLOWANCES AND RESERVING CERTAIN LOTTERY FUND REVENUE FOR THE CONNECTICUT TEACHERS' RETIREMENT FUND BONDS SPECIAL CAPITAL RESERVE FUND.
Sec. 1 – Modifying C.G.S. 10-183g Benefit Rates. Commencing and Ending Dates
- This act adjusts the Cost of Living Adjustment (COLA) rates for retirees.
Sec. 2 – Modifying C.G.S. 4-66k(d) Regional Planning Incentive Account
- This act clarifies how revenue may be transferred into accounts related to the Connecticut Teachers' Retirement System.
Public Act 21-2
AN ACT CONCERNING PROVISIONS RELATED TO REVENUE AND OTHER ITEMS TO IMPLEMENT THE STATE BUDGET FOR THE BIENNIUM ENDING JUNE 30, 2023.
Sec. 71 – Modifying C.G.S. 12-801(6) Definitions. "Lottery Fund"
- This act redefines 12-801(6) into a new 12-801(8), "Lottery and gaming fund", which specifies funds eligible for transfer to the CTRS Capital Reserve Fund.
Sec. 314 – Modifying C.G.S. 10-183g Benefit Rates. Commencing and Ending Dates
- This act modifies the eligibility for application of an equation for payout of member accounts to beneficiaries.
Sec. 433 – Modifying C.G.S. 12-701(a)(20)(B) Definitions. Regulations
- This act modifies the eligibility for CT income tax exemptions applicable on CT Teachers’ Retirement System pensions.