General Assembly |
Proposed Bill No. 6466 |
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January Session, 2017 |
LCO No. 1954 | ||||
*01954* | |||||
Referred to Committee on PLANNING AND DEVELOPMENT |
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Introduced by: |
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REP. KLARIDES, 114th Dist. REP. CANDELORA, 86th Dist. REP. HOYDICK, 120th Dist. REP. O'DEA, 125th Dist. REP. O'NEILL, 69th Dist. |
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AN ACT CONCERNING THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to require that (1) any municipal employee who is a member of the municipal employees' retirement system and was hired on or after July 1, 2016, participate in a municipal employee defined contribution plan for which the State Comptroller shall establish a contribution schedule, in lieu of any defined benefit retirement program, and (2) the State Comptroller establish a voluntary process for municipal employees hired prior to or on June 30, 2016, to convert from a defined benefit retirement program to the municipal employee defined contribution plan.
Statement of Purpose: