Bill > HB05493

This bill proposes to modify state law by excluding overtime pay from the calculation of state employee pensions, with the goal of improving the financial stability of the state employees retirement system. Specifically, the legislation would change how pension benefits are determined by removing overtime earnings from the base salary used to calculate an employee's retirement benefit. By doing so, the bill aims to create more predictable and sustainable pension costs for the state, as overtime pay can sometimes be variable and potentially inflate pension calculations. The change would likely mean that state employees' future pension amounts would be based solely on their regular, base salary, potentially reducing the overall long-term financial obligations of the state's retirement system.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05493&which_year=2025