CGS § 7-459b. Deferred retirement option plan.

History: P.A. 00-73 and P.A. 00-192 effective July 1, 2000 (Revisor's note: Sec. 1 of P.A. 00-73 and Sec. 98 of P.A. 00-192 are, for the most part, identical except that P.A. 00-192 includes a provision in Subsec. (a) authorizing the Retirement Commission to “prescribe the manner in which such option plan may be adopted by a municipality participating in the Municipal Employees' Retirement Fund, provided the method of adoption is in accordance with subsection (c) of this section” which is not found in P.A. 00-73, and further differs from P.A. 00-73 in Subsec. (c) in providing for adoption “in a manner prescribed by the Retirement Commission” where P.A. 00-73 provides for adoption “by a majority vote of the local legislative body”. The later act, P.A. 00-192, was deemed by the Revisors to have repealed by implication the conflicting earlier provision enacted in P.A. 00-73); P.A. 23-182 amended Subsec. (a) to replace “July 1, 2000” with “July 1, 2025” and provisions re adoption of deferred retirement option plan by participating municipalities with provisions re offering of such plan to members by such municipalities, amended Subsec. (b) to replace reference to impact on contribution rates with reference to impact that would increase contribution rates, add provisions re evaluation by Retirement Commission of deferred retirement option plan and authorization for commission to discontinue such plan, and make conforming changes, and deleted former Subsec. (c) re municipal adoption of deferred retirement option plan, effective June 27, 2023; P.A. 24-151 amended Subsec. (a) to delete provision re Retirement Commission prescribing manner of offering deferred retirement option plan, effective June 6, 2024.