Bill Text: CT SB00341 | 2014 | General Assembly | Introduced
Bill Title: An Act Concerning Professional Fees For Administration Of The Retired Teachers' Health Insurance Premium Account.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2014-04-16 - File Number 568 [SB00341 Detail]
Download: Connecticut-2014-SB00341-Introduced.html
General Assembly |
Raised Bill No. 341 | ||
February Session, 2014 |
LCO No. 1423 | ||
*01423_______APP* | |||
Referred to Committee on APPROPRIATIONS |
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Introduced by: |
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(APP) |
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AN ACT CONCERNING PROFESSIONAL FEES FOR ADMINISTRATION OF THE RETIRED TEACHERS HEALTH INSURANCE PREMIUM ACCOUNT.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (d) of section 10-183t of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2014):
(d) The Treasurer shall establish a separate retired teachers' health insurance premium account within the Teachers' Retirement Fund. Commencing July 1, 1989, and annually thereafter all health benefit plan contributions withheld under this chapter in excess of five hundred thousand dollars shall, upon deposit in the Teachers' Retirement Fund, be credited to such account. Interest derived from the investment of funds in the account shall be credited to the account. Funds in the account shall be used for (1) payments to boards of education pursuant to subsection (c) of this section and for payment of premiums on behalf of members, spouses of members, surviving spouses of members or disabled dependents of members participating in one or more health insurance plans pursuant to subsection (a) of this section in an amount equal to the difference between the amount paid pursuant to subsection (a) of this section and the amount paid pursuant to subsection (c) of this section, and (2) payments for professional fees associated with the administration of the health benefit plans offered pursuant to this section. [of not more than one hundred fifty thousand dollars annually.] If, during any fiscal year, there are insufficient funds in the account for the purposes of all such payments, the General Assembly shall appropriate sufficient funds to the account for such purpose.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
July 1, 2014 |
10-183t(d) |
Statement of Purpose:
To eliminate the annual cap on professional fees for administration of the retired teachers' health insurance premium account.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]