House Bill No. 5023
               House Bill No. 5023

              PUBLIC ACT NO. 98-159


AN  ACT  CONCERNING  THE DATE FOR CERTIFICATION TO
THE GENERAL ASSEMBLY OF THE AMOUNT  NEEDED  TO  BE
APPROPRIATED TO THE JUDGE'S RETIREMENT FUND.


    Be  it  enacted  by  the  Senate  and House of
Representatives in General Assembly convened:
    Section  1.  Subsection  (b) of section 51-49d
of  the  general  statutes  is  repealed  and  the
following is substituted in lieu thereof:
    (b)  The  retirement system shall be funded on
an actuarial reserve basis.  [The]  ON  OR  BEFORE
NOVEMBER  1,  1998, AND BIENNIALLY THEREAFTER, THE
Retirement Commission,  as  administrator  of  the
system  pursuant to section 5-155a, shall [, on or
before  March  first  annually,]  certify  to  the
General  Assembly,  WITH  RESPECT  TO  THE ENSUING
BIENNIUM, the amount necessary on the basis of  an
actuarial determination to gradually establish and
subsequently maintain the retirement fund on  such
determined  actuarial reserve basis, and make such
other recommendations with regard to such fund and
its   administration   as   the  commission  deems
appropriate. The Retirement Commission  shall,  at
least once every two years, prepare a valuation of
the assets and liabilities of the system.  On  the
basis of each such valuation, it shall redetermine
the normal rate of contribution and, until  it  is
amortized,  the  unfunded  past service liability.
The General Assembly shall review the commission's
recommendations   and   certification   and  shall
appropriate to  the  retirement  fund  the  amount
certified   by   the   Retirement   Commission  as
necessary  provided  said  certification   is   in
compliance  with  this  section  at  the  time  of
certification, and the amount so  certified  shall
not be reduced or used for other than the purposes
of this section.
    Sec.  2.  This  act  shall take effect July 1,
1998.

Approved June 4, 1998