Connecticut § 7-459d - Defined contribution retirement plan.
Full text of Connecticut Connecticut General Statutes § 7-459d — Defined contribution retirement plan., with citation guidance and answers to common questions.
§ 7-459d. Defined contribution retirement plan.
Sec. 7-459d. Defined contribution retirement plan. (a) On or after July 1, 2025, the State Comptroller shall create a municipal defined contribution retirement plan and prescribe the manner in which such retirement plan may be adopted by any municipality, as defined in section 7-425.
(b) Any such retirement plan shall provide that a municipality that adopts such plan shall have the option to transfer to such plan the accounts and assets of any defined contribution retirement plan previously adopted by such municipality. Payroll deductions for each member of the defined contribution plan created under this section shall be made by the appropriate municipal employer.
(c) The State Comptroller shall serve as the administrator of the retirement plan created under this section. The State Comptroller may (1) enter into contractual agreements on behalf of the state with members of such plan to defer any portion of such member's compensation from the adopting municipality, (2) make deposits or payments to such plan, subject to the terms of such plan, and (3) contract with a private corporation or private institution for the provision of consolidated billing services and other administrative services for such plan.
(P.A. 24-151, S. 85.)
History: P.A. 24-151 effective June 6, 2024.
PART III*
GENERAL PROVISIONS
*Cited. 157 C. 429; 216 C. 253; 224 C. 656.
Cited. 33 CA 541.
Salary increase for tax collector, voted by common council, held invalid because approval of board of finance and taxation was not secured. 25 CS 227.
Frequently Asked Questions About Connecticut § 7-459d
What does Connecticut General Statutes § 7-459d cover?
Section 7-459d ("Defined contribution retirement plan.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 7-459d?
A common citation format is "Connecticut General Statutes § 7-459d" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 7-459d apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.