Connecticut

Major public retirement systems in Connecticut include the Connecticut State Employees Retirement System (SERS) and the Connecticut Teachers Retirement Board (TRB).

CT SERS administers pension and other benefits to state employees. Assets are managed by the state treasurer, who serves as sole trustee. The system is administered by the Retirement Division of the state comptroller.

CT TRB administers pension and other benefits to public school teachers in the state. Assets are managed by the state comptroller, who serves as the sole trustee.

Authorizing Statute

Chapter 66 of the Connecticut General Statutes is known as the "State Employees Retirement Act" Chapter 66 > § 5-153 establishes membership in the state retirement system continued from prior law:

The State Employees Retirement Commission and the state employees retirement system, as existing on September 30, 1961, shall be continued in accordance with and subject to the provisions of this chapter. Each person who was a member of the system on said date shall continue to be a member. All retirement salaries being paid on said date from the General Fund or the Retirement Fund shall continue to be paid from the General Fund or Retirement Fund, as the case may be. All service and contributions credited to a member for retirement purposes on said date shall remain credited.

Board Composition

Contributions

Per the U.S. Census, in FY 2015, employer contributions to Connecticut's government pension plans were 6.80 percent of all state and local government direct general spending.

Constitutional Protections

No explicit constitutional protection for public pension benefits. Statutory protection exists for vested employees who satisfy eligibility requirements by becoming eligible to receive benefits. Courts also recognized the state's statutory pension scheme establishes a property interest entitled to protection from arbitrary legislative action under the due process provisions of the state constitution. See Pineman v. Oechslin, 488 A.2d 803 (1985). Municipal pensions are protected by CT Stat. §7-148 providing that the "rights or benefits granted to any individual under any municipal retirement or pension system shall not be diminished or eliminated." Source: Robert Klausner, Esq., State Constitutional Protections for Public Sector Retirement Benefits