Governor Lamont's Proposed Municipal TRS Contributions
Mar 26, 2019 - less than 1 minute
Governor Ned Lamont’s proposed biennial state budget for fiscal years 2020 and 2021 contains municipal contributions to the Connecticut Teachers’ Retirement System (TRS), which has traditionally been funded by the State of Connecticut and contributions from teachers. The municipal contributions contained in the governor’s proposed budget are based on several factors: 1) the normal cost of funding the TRS for each town, 2) the average teacher salary in each town, 3) the statewide median teacher salary, and 4) whether or not a community is considered a Distressed Municipality.
This document details how these municipal contributions to the TRS are calculated, and provides example calculations of the FY 2020 municipal contribution. A model of these calculations from the State of Connecticut's Office of Policy and Management is also available via the second button on the right.
Additionally, interactive visualizations, showing how each Connecticut municipality relates to one another based on different factors of the proposed municipal contributions, are available via the third button on the right.
Citation for Explainer Document
Connecticut School Finance Project. (2019). Governor's Proposed Municipal TRS Contributions. New Haven, CT: Author. Retrieved from http://ctstatefinance.org/assets/uploads/files/Governors-Proposed-TRS-Contributions.pdf.
Citation for OPM Model
State of Connecticut, Office of Policy and Management. (2019). Proposed Municipal Contributions to TRS. Available from http://ctstatefinance.org/reports/municipal-TRS-contributions.
Citation for Visualizations
Connecticut School Finance Project. (2019). Governor's Proposed Contributions to the Teachers' Retirement System by Town [Vizualizations]. New Haven, CT: Author. Retrieved from https://public.tableau.com/views/TableauMap-AvgTeacherSalaryandTRBPercentage/Est_AverageSalary?:embed=y&:display_count=yes.
