2025 Connecticut General Statutes
Title 7 - Municipalities
Chapter 113 - Municipal Employees
Section 7-459f. - Alternative annuity plan.
(a) The Connecticut Municipal Employees Retirement Commission may establish and implement an annuity plan that shall be an alternative to the municipal employees retirement system under this part, provided any such annuity plan is approved with the unanimous vote of the trustees set forth in subdivisions (3) and (4) of subsection (b) of section 7-448a. No municipality participating in the municipal employees retirement system as of the date such plan is implemented shall be eligible to participate in such annuity plan. The commission shall prescribe the manner in which such annuity plan may be adopted by any municipality, as defined in section 7-425, that is not participating in the municipal employees retirement system.
(b) Any such annuity plan shall provide that a municipality that adopts such plan shall have the option to transfer to such plan the accounts and assets of any defined contribution retirement plan previously adopted by such municipality. Payroll deductions for each member of the annuity plan implemented under this section shall be made by the appropriate municipal employer.
(c) The State Comptroller shall serve as the administrator of the annuity plan established under this section. The State Comptroller may (1) enter into contractual agreements on behalf of the state with members of such plan to defer any portion of such member's compensation from the adopting municipality, (2) make deposits or payments to such plan, subject to the terms of such plan, and (3) contract with a private corporation or private institution for the provision of consolidated billing services and other administrative services for such plan.
(P.A. 25-174, S. 185.)
History: P.A. 25-174 effective June 30, 2025.
