Final Report (Teachers' Retirement System Viability Commission)
Mar 19, 2018
Final report from the Teachers' Retirement System Viability Commission, which was created as part of the biennial budget for fiscal years 2018-19 (Conn. Acts 17-2 (June Special Session)).
Composed of elected and appointed members of the Teachers' Retirement Board, the Commission was tasked with developing a plan for the Teachers' Retirement System (TRS) that "gives significance to the financial capability of the State, does not include the State’s ability to raise revenue through new increased taxes, and considers actions of other state teacher retirement plans to achieve short and long-term sustainability."
The Commission's report includes three alternative plans aimed at making TRS viable in the short and long term. The Commission defined viability for TRS "as the satisfaction of both the plan’s sustainability and affordability. Therefore, a viable retirement system demonstrates the ability to meet all future benefit obligations while requiring contributions which can be maintained at or below affordable levels."
The report provides the research and analysis considered by the Commission, and provides details and comparative analysis of the three alternative plans put forward by the Commission.
State of Connecticut, Teachers' Retirement System Viability Commission. (2018). Report of the Commission. Hartford, CT: Author. Retrieved from http://www.ct.gov/trb/lib/trb/formsandpubs/CT_TRS_Viability_Commission_Report_03192019.pdf.