Note 10 Other Retirement Systems Administered by the State of Connecticut
The State acts solely as the administrator and custodian of the assets or the Connecticut Municipal Employees' Retirement System (CMERS) and the Connecticut Probate Judges and Employees Retirement System (CPJERS). Although these retirement systems are included as pension trust funds in the State's financial statements, the State makes no contribution and has no financial liability other than a fiduciary responsibility.
Plan Descriptions and Contribution Information
Membership of each plan consisted of the following at the date of the latest
actuarial valuation:
|
CMERS 6/30/99 |
CPJERS 12/31/99 |
|
|---|---|---|
| Retirees and beneficiaries | ||
| receiving benefits | 4,234 | 198 |
| Terminated plan members entitled | ||
| to but not receiving benefits | 96 | 34 |
| Active plan members | 7,811 | 342 |
| Total | 12,141 | 574 |
| Number of participating employers | 159 | 1 |
Connecticut Municipal Employees' Retirement System
Plan Description
CMERS is a cost-sharing multiple-employer defined benefit
pension plan that covers fire, police, and other personnel (except teachers) of
participating municipalities in the State. Plan benefits, cost-of-living
adjustments, contribution requirements of plan members and participating
municipalities, and other plan provisions are described in Chapters 7-425 to
7-451 of the General Statutes. The plan provides retirement, disability, and
death benefits, and annual cost-of-living adjustments to plan members and their
beneficiaries.
Contributions
Plan members are required to contribute 2.25 percent to 5.0
percent of their annual salary. Participating municipalities are required to
contribute at an actuarial determined rate. The participating municipalities
fund administrative costs of the plan.
Connecticut Probate Judges and Employees' Retirement System
Plan Description
CPJERS is a single-employer defined benefit pension plan that
covers judges and employees of probate courts in the State. Plan benefits,
cost-of-living adjustments, required contributions of plan members and the
probate court system, and other plan provisions are described in Chapters 45a-34
to 45a-56 of the General Statutes. The plan provides retirement, disability, and
death benefits, and annual cost-of-living adjustments to plan members and their
beneficiaries.
Contributions
Plan members are required to contribute 1.0 percent to 3.75
percent of their annual salary. The probate court system is required to
contribute at an actuarial determined rate. Administrative costs of the plan are
funded by the probate court system.