PA 07-126—SB 1412

Education Committee

Appropriations Committee

AN ACT CONCERNING THE STATE EDUCATION RESOURCE CENTER

SUMMARY: This act extends membership in the Teachers' Retirement System (TRS) to professional staff employed by the State Education Resource Center (SERC) who have certificates or permits issued by the State Board of Education. By law, SERC helps the board provide programs and activities to promote educational excellence, including training, professional development, and continuing education seminars; technical material and information on successful school models and best practices; and research on and evaluation of school improvement.

The act also allows TRS members to purchase credit in the TRS for pre-July 1, 2007 service with SERC. It requires members to pay the full present value actuarial cost of the SERC service credit, instead of 50% of the full cost as required for other authorized TRS service credit purchases. The full actuarial cost is the present value of the increase in the member's TRS retirement benefit attributable to the purchased credit.

EFFECTIVE DATE: July 1, 2007

BACKGROUND

Teachers' Retirement System

The TRS is a state-funded defined benefit retirement system for professional employees employed by Connecticut public schools. It covers employees who (1) hold positions requiring a teaching certificate or permit issued by the State Board of Education, (2) hold the appropriate certification for their position, and (3) are employed at least half-time. Being employed by a “public school” for purposes of the TRS includes those who meet the foregoing definition and are employed by, among others, the State Board of Education, the Board of Governors of Higher Education or any higher education constituent unit, the Connecticut Children's Center, and other state institutions that employ teachers.

OLR Tracking: JSL: DD: PF: TS