AN ACT CONCERNING LIMITS ON STATE EMPLOYEE RETIREMENT BENEFITS.

SB 27 limits state employee retirement benefits to an amount equal to the employee's annual base pay, preventing pensions from exceeding this figure. The bill directly affects current and future state employees who receive retirement benefits, changing how their pensions are calculated. Key provisions require all retirement benefits to be based solely on an employee's base pay (core salary, excluding bonuses or other compensation), rather than including additional pay components. This policy change ensures pension payments do not surpass the retiree's base salary at the time of retirement. The bill amends Chapter 66 of Connecticut's general statutes to implement this restriction.