Connecticut Administrative Code › Title 5 - State Employees › 155 - Organization of the State Employees' Retirement Commission and Procedures Available to the Public in the Conduct of their Business with the Commission › Section 5-155-2 - Description of organization

Current through July 10, 2024
The retirement commission has as its primary duty the administration of the following systems:
(a) State employees' retirement system. The State Employees' Retirement System authorized under chapter 66 of the General Statutes has as its objective providing age and disability retirement payments for eligible retirees. Upon entering state service, employees who qualify may apply for membership in the system and authorize payroll deductions.
(b) State police survivors' benefit fund. This fund was established in 1961 under chapter 65 of the General Statutes, and is administered by the state as an adjunct of the State Employees' Retirement System. The primary objective of the fund is to provide benefits for surviving dependents of the deceased state police. The employees contribute 1¾% of their compensation, subject to a maximum of $84 per year.
(c) Municipal employees' retirement system. Authorized under chapter 113, part II of the General Statutes, the Municipal Employees' Retirement System was established to prove a sound and efficient system for the payment of retirement benefits to municipal employees. On being hired by a participating municipality, municipal employees automatically become members of the system. Deductions are made by the municipality for each eligible employee, recorded in the member's account, and deposited with the state treasurer. By statute, members may purchase additional benefits for military and prior service with a participating municipality. Members may obtain a refund of contributions without interest upon resigning from municipal service.
(d) Policemen and firemen survivors' benefit fund. This fund was established in 1963 under chapter 104 of the General Statutes, and is administered by the state as an adjunct of the Municipal Employees' Retirement System. The primary objective of the fund is to provide benefits for surviving dependents of deceased municipal policemen and firemen. Employees contribute 1% of their yearly compensation and the municipality contributes an additional premium payment.
(e) The general assembly pension system. The General Assembly Pension System was established by Public Act 281 of the 1972 Session of the General Assembly (chapter 16 of the General Statutes) to provide retirement benefits to present and subsequent members of the legislature. Membership in the system is voluntary and election may be made by written application to the retirement commission. Election must be made prior to March 1 of any year for which the member wishes to receive credit. Under section 7 of this act, current members may purchase credit for prior service at a rate of $200.00 for each year of credit desired. Members must contribute 10% of their annual compensation during each year of credited future service, with the state contributing the balance of the cost.
(f) State probate judges and employees' retirement system. The retirement commission administers the Probate Judges and Employees' Retirement System authorized by chapter 774 of the General Statutes. The objective of the fund is to provide a sound and efficient method for the payment of retirement benefits to probate judges and employees of the Connecticut probate districts. To be eligible for benefits under the system, applicants must be employed by the court at least twenty hours per week and five months per year. Probate judges must be able to serve twelve years before reaching the age of 70. The retirement commission administers this system in cooperation with the judicial department and the office of the probate court administrator.
(g) State social security administration. Under chapters 66 and 113 of the General Statutes, the retirement commission is authorized to act as agent for the state in all matters relating to social security. Representatives of the commission provide information material to state and municipal officials concerning social security coverage of public officers and employees under the provisions of federal and state laws and regulations. Meetings are held with legislative bodies, employee groups and individual employees. Referendums among members of retirement systems are supervised. Reporting officials, payroll and personnel departments are regularly furnished information concerning changes in laws and regulations as well as reminders of coverage under their social security agreement. Guidance in maintaining records, filing reports, and making payments is provided. Quarterly state and municipal reports and adjustment reports are audited. Checks covering social security contributions of employers and employees are deposited. Reports are forwarded to the Social Security Administration, Baltimore, Maryland. Payments are forwarded to the Federal Reserve Bank of Boston.