OLR Bill Analysis

SB 241 (File 264, as amended by Senate "A")*

AN ACT ALLOWING ADJUNCT FACULTY MEMBERS OF THE REGIONAL COMMUNITY-TECHNICAL COLLEGE SYSTEM TO WAIVE MEMBERSHIP IN A STATE RETIREMENT PLAN.

SUMMARY:

This bill allows an adjunct faculty member of a regional community-technical college to irrevocably waive participation in a state employee retirement plan within 60 days of beginning employment. The waiver remains irrevocable if the faculty member accepts subsequent part-time employment with the regional community-technical college system, Connecticut State University system (CSU), University of Connecticut (UConn), or Charter Oak State College. (If the faculty member becomes a full-time employee, he or she can join a state retirement plan at that time. ) Adjunct faculty at UConn and CSU are already allowed to do this under individual collective bargaining agreements.

The bill will allow these faculty members to make tax-deductible contributions to individual retirement accounts (IRA). Depending on a person's filing status, Internal Revenue Service regulations prohibit federal tax deductions for IRA contributions if a person is also covered by an employer retirement plan.

*Senate Amendment “A” changes the timeframe in which adjunct faculty members may irrevocably waive participation in a state employee retirement plan to within 60 days after beginning, rather than accepting, employment.

EFFECTIVE DATE: July 1, 2012

COMMITTEE ACTION

Higher Education and Employment Advancement Committee

Joint Favorable Change of Reference

Labor and Public Employees Committee

Joint Favorable