Hwang, Kupchick and Devlin honor CT teachers

To properly recognize the importance of teachers in our community and on National Teachers Appreciation Day, State Senator Tony Hwang along State Reps. Brenda Kupchick (R-132) and Laura Devlin (R-134) today proposed an amendment that would push back the teachers’ contribution to their retirement from the newly established 7% back to 6%.

Sen. Hwang said, “For me, as an immigrant who was able to pursue the American Dream through the support and guidance of inspirational and caring teachers. I am forever indebted to educators who provided me with the invaluable lifelong skills of learning and thinking. Our amendment proposal was derived from the guidance of the Commission on Fiscal Stability and Economic Growth along with the Connecticut Education Association. This amendment recognizes the invaluable contributions of our teachers and renews our commitment to their pension by using net proceeds from the CT Lottery to pay down unfunded liabilities of the Teachers’ Retirement Fund.”

“All Connecticut residents have had to endure financial uncertainty as a result of the budget crisis, but particularly teachers because their pensions reside in a perpetually underfunded state pension system,” said Rep. Kupchick. “This is the right thing to. We have to give our hard-working teachers at least some level of certainty during this chaotic time for our state.”

“Our teachers give so much every day to our community as they help our children learn and grow. It’s only right that we support them by making good on our state’s promises to them and helping secure their futures by funding their pensions,” said Rep. Laura Devlin.

The Commission on Fiscal Stability and Growth recommended dedicating the Connecticut Lottery Corporation’s annual transfer to the budget exclusively to the cash-starved state pension fund for municipal school teachers.

The Fairfield legislators also proposed a second amendment which looks at one of the recommendations of the state Commission on Fiscal Stability and Growth by establishing a panel to study the Teachers ‘Retirement System and issue a report to the legislature by January 1, 2019.

Last session, the contribution limit was increased to 7% as a budget cost saving measure but lacked any proper analysis as to the true impact of the contribution adjustment on today’s teachers, especially our retired teachers in Fairfield.

The change back to 6% would be paid for by using revenue from the state lottery money and would go into effect on July 1.

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