OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-5591

AN ACT CREATING THE CONNECTICUT RETIREMENT SECURITY PROGRAM.

AMENDMENT

LCO No.: 5681

File Copy No.: 747

House Calendar No.: 227

Senate Calendar No.: 522

OFA Fiscal Note

State Impact: See Below

Municipal Impact: See Below

Explanation

The amendment may result in a fiscal impact to the state and municipalities if the anticipated rate of return established by the Investment Advisory Council for the State Employee Retirement System and the Municipal Employees' Retirement System is different than the retirement systems' current anticipated rates of return. There is no fiscal impact to the Teachers' Retirement System (TRS) as the rate for TRS is set by its board pursuant to CGS 10-183z, which is unchanged by the amendment.

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.