Connecticut Seal

General Assembly

 

Proposed Bill No. 746

 

January Session, 2017

 

LCO No. 3241

 

*03241*

Referred to Committee on LABOR AND PUBLIC EMPLOYEES

 

Introduced by:

 

SEN. FASANO, 34th Dist.

 

AN ACT AMENDING THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM FOR NEWLY HIRED EMPLOYEES.

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

That title 7 of the general statutes be amended to make the following changes, applicable to newly hired municipal employees covered by the Municipal Employee Retirement System: (1) Exclude overtime from retirement benefit calculations, (2) increase the retirement age to sixty-two, (3) limit cost-of-living increases to between zero and four per cent, (4) increase employee contributions, and (5) create a tier consistent with state employee retirement system tier III for new eligible employees.

Statement of Purpose:

To implement pension reform under the Municipal Employee Retirement System for newly hired employees.