Connecticut Seal

General Assembly

 

Substitute Bill No. 5313

    February Session, 2012

 

*_____HB05313GAE___041812____*

AN ACT CREATING A TASK FORCE TO STUDY A STATE-ADMINISTERED PENSION FUND FOR EMPLOYEES IN THE STATE.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (Effective from passage) (a) There is established a task force to study the feasibility of developing a state-administered defined benefit plan for individuals employed in the state. Such defined benefit plan may be funded by employee and employer contributions and may follow the employee if he or she changes employers. The task force shall (1) determine the number of employees in the state not currently participating in an employer-sponsored defined benefit plan, (2) perform an analysis to determine the best model for such plan, (3) develop criteria for participation by employees and employers, (4) perform an analysis of the cost to the state to implement such plan, (5) determine the cost to employers for participation in such plan, and (6) determine the effect, if any, the implementation of such plan may have on economic activity to this state.

(b) The task force shall consist of the following members:

(1) One appointed by the speaker of the House of Representatives;

(2) One appointed by the president pro tempore of the Senate;

(3) One appointed by the majority leader of the House of Representatives;

(4) One appointed by the majority leader of the Senate;

(5) One appointed by the minority leader of the House of Representatives;

(6) One appointed by the minority leader of the Senate;

(7) One appointed by the Governor;

(8) The Commissioner of Economic and Community Development, or the commissioner's designee;

(9) The Labor Commissioner, or the commissioner's designee;

(10) The Banking Commissioner, or the commissioner's designee;

(11) The State Comptroller, or the State Comptroller's designee; and

(12) The State Treasurer, or the State Treasurer's designee.

(c) All appointments to the task force shall be made not later than thirty days after the effective date of this section. Any vacancy shall be filled by the appointing authority.

(d) One chairperson of the task force shall be the member appointed by the Governor. The speaker of the House of Representatives and the president pro tempore of the Senate shall select the second chairperson of the task force from among the members of the task force. Such chairpersons shall schedule the first meeting of the task force, which shall be held not later than sixty days after the effective date of this section.

(e) The administrative staff of the Labor Department shall serve as administrative staff of the task force.

(f) Not later than February 1, 2013, the task force shall submit a report on its findings and recommendations to the joint standing committees of the General Assembly having cognizance of matters relating to labor, commerce and banks, in accordance with the provisions of section 11-4a of the general statutes. The task force shall terminate on the date that it submits such report.

This act shall take effect as follows and shall amend the following sections:

Section 1

from passage

New section

LAB

Joint Favorable Subst.

 

GAE

Joint Favorable