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Local lawmaker wants pension contribution rate change bill approved

A bill that would increase the contribution rate for employees participating in the state run pension program for Connecticut municipalities is awaiting action in the House. 

 

Redding Representative John Shaban co-sponsored the proposal to amend the Municipal Employee Retirement System.  He says the annual contribution rate for municipalities is adjusted nearly every year by the state Retirement Commission, while the employee contribution rate is set in statute and has not changed in more than 60 years. 

 

He added that the bill would tick up the employee contribution rate by 2 or 3 points over time to restore some balance and give municipalities some relief in continued poor economic times.

 

Weston First Selectwoman Gayle Weinstein testified in favor of the bill saying her town had two consecutive years of 20-percent increases which placed an incredible and unpredictable burden on the municipal budget.  She says a decade ago the contribution percentage was about 55/45 town to employee, but now the split is about 85/15.

 

Redding First Selectman Natalie Ketcham testified that the current funding is unsustainable for towns because over the last decade the municipal contribution rate has increased over 400-percent while the employee rate has stayed the same.

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