Public Hearing on Connecticut Teachers' Retirement System Financial Viability - Held on Tuesday, February 13, 2018 from 3-5 pm.
The Teachersí Retirement System Viability Commission held a public hearing on Tuesday, February 13, 2018 from 3-5 pm at the State Teachersí Retirement Board office located at 765 Asylum Avenue, Hartford, CT (2nd floor).
The subject of the public hearing was recommendations for maintaining the financial viability of the Connecticut teachers' retirement system. The Commission is charged with developing and implementing a plan for maintaining the financial viability of the Connecticut teachers' retirement system and is required to give significance to the financial capability of the state, which shall include: (1) The fiscal health of the state; (2) the balance in the Budget Reserve Fund, established under section 4-30a of the general statutes; (3) the short and long-term liabilities of the state, including, but not limited to, the state's ability to meet minimum funding levels required by law, contract or court order; (4) the state's initial budgeted revenue for the state for the previous five fiscal years as compared to the actual revenue received by the state for such fiscal years; (5) state revenue projections for the fiscal years during the period in which the proposed plan is to be in operation; (6) the economic outlook for the state; and (7) the state's access to capital markets. The financial capability of the state shall not include the state's ability to raise revenue through new or increased taxes. The Commissionís plan will be submitted to the Appropriations and Education Committees of the Connecticut General Assembly.
Content Last Modified on 3/19/2018 10:13:19 AM