2019 Legislation

Public Act 19-73 Concerning Teachers’ Retirement System Contributions. 

https://www.cga.ct.gov/2019/act/pa/pdf/2019PA-00073-R00SB-00978-PA.pdf

Sec. 1 – An act effective January 1, 2020 for mandatory regular contribution for State Technical systems of 7% and a 1.25% health contribution. The 1.25% health contribution will be waived should the employee meet established criteria.

Public Act 19-74 Concerning Minority Teacher Recruitment and Retention

https://www.cga.ct.gov/2019/ACT/pa/pdf/2019PA-00074-R00SB-01022-PA.pdf

Sec. 5 - An act to change post retirement in shortage areas for up to a year provided members have graduated from schools designated educational systems.

Public Act 19-117 Concerning the State Budget for the Biennium ending June 30, 2020 and Making Appropriations Therefor, and Provisions Related to Revenue and Other Items to Implement in the State Budget.

https://www.cga.ct.gov/2019/act/Pa/pdf/2019PA-00117-R00HB-07424-PA.PDF

Sec. 82-85 - An act to address the CT TRB Retirement Fund bonds Special Capitol reserve fund and amends the TRB statutes related to amortization of unfunded liabilities and future gains or losses, revised return assumption and credited interest.

Sec. 86 - An act making changes to the Plan N death benefit payment to increase the aggregate benefits paid from 25%-50% for members who retire after July 1, 2019.

Sec. 89 - An act making changes to the Credited Interest-Discusses a cap of 4% to member accounts, with no more than a return rate of assumption at 6.9%.