OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

http://www.cga.ct.gov/ofa

sSB-54

AN ACT ESTABLISHING A RETIREMENT SAVINGS PLAN FOR LOW-INCOME PRIVATE SECTOR WORKERS.

AMENDMENT

LCO No.: 8290

File Copy No.: 309

Senate Calendar No.: 234


OFA Fiscal Note

See Below

The amendment strikes the original bill. The new language establishes the Connecticut Retirement Security Trust Fund Advisory Council, which is required to conduct a market feasibility study and submit it to the General Assembly and the Governor by July 1, 2014.

The source of funding for the study is not specified. There will be a cost of $100,000 to the General Fund if the Office of the State Comptroller or the Office of the State Treasurer, who are co-chairs of the Council, provide funding for the study.

The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.