Bill Text: CT SB00114 | 2017 | General Assembly | Introduced

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Bill Title: An Act Requiring New State And Municipal Employees To Participate In Defined Contribution Retirement Plans.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2017-01-13 - Referred to Joint Committee on Labor and Public Employees [SB00114 Detail]

Download: Connecticut-2017-SB00114-Introduced.html

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General Assembly		Proposed Bill No. 114
January Session, 2017		LCO No. 1101
		*01101*
Referred to Committee on LABOR AND PUBLIC EMPLOYEES
Introduced by:
SEN. MARTIN, 31st Dist.

AN ACT REQUIRING NEW STATE AND MUNICIPAL EMPLOYEES TO PARTICIPATE IN DEFINED CONTRIBUTION RETIREMENT PLANS.

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

That the general statutes be amended to require all state and municipal employees who are hired on or after the effective date of this act to participate in defined contribution retirement plans rather than the current defined benefit systems.

Statement of Purpose:

To achieve savings in future pension liabilities by making new state and municipal employees participate in defined contribution retirement plans.