Bill > HB05817

This bill seeks to modify the definition of "salary" in Connecticut's state employee pension calculation by specifically excluding overtime pay and mileage reimbursement payments from the retirement income computation. Currently, these additional payments might be included when determining an employee's pension, which can artificially inflate the retirement benefit. By removing overtime earnings and travel expense reimbursements from the salary calculation, the bill aims to create a more straightforward pension calculation that reflects an employee's base compensation rather than supplemental earnings. The proposed change would apply to state employees and would standardize how retirement benefits are determined by focusing on regular, standard wages instead of variable additional payments that can fluctuate from year to year. This modification could potentially reduce the state's long-term pension liability and create more predictable pension cost projections.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05817&which_year=2025