Connecticut Seal

Senate, January 27, 2017

The Senate Committee on Appropriations reported through SEN. OSTEN of the 19th Dist., Chairperson of the Committee on the part of the Senate, that the resolution ought to be adopted.

Supplemental Summary Information:

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1 The ADEC under the “current schedule” reflects the FY 18 and FY 19 ADEC including the impact of actual plan experience for the period 2014 to 2016 and the demographic changes implemented based on the June 30, 2015 experience study.

2 Changing the discount rate is a recommendation in the agreement and was adopted by the Retirement Commission, on December 15, 2016.

3 Demographic changes were adopted by the Retirement Commission based on the SERS experience study for the four year period ending June 30, 2015 and are not included as provisions of the agreement.

4 Idid. 2

5 The current method is a projection based on the June 30, 2014 SERS valuation and the June 30, 2015 experience study and reflects the estimated impact of demographic and experience changes for the plan between 2014 and 2016.