Page 275

House Bill No. 5506

Public Act No. 22-118 275 of 739

Any member who began receiving disability benefits October 1, 1977, under the provisions of subsection (d) of section 10-166 and who elected to receive benefits in accordance with the former provisions of subsection (c) of section 10-164-7 of the Regulations of Connecticut State Agencies in effect June 30, 1978, may elect to receive such benefits readjusted under the provisions of subsection [(b) or] (c) or (d) of section 10-183j, provided such member provides written notice of such election to the Teachers' Retirement Board not later than ninety days following January 1, 2001. Sec. 189. Subsection (a) of section 10-183ww of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022): (a) Not later than fourteen business days after the last action necessary to make effective a state budget act for the biennium ending June 30, 2021, subject to the approval of the Teachers' Retirement Board, the credited interest percentage for member accounts, except voluntary accounts containing only those contributions made pursuant to section 10-183i shall be not more than four per cent per annum and the return assumption shall be six and nine-tenths per cent per annum. Notwithstanding the provisions of sections 10-183vv, 12-801, 12-806 and 12-812, if the board fails to revise such percentage and adopt such return assumption: (1) No moneys shall be deposited in the Connecticut Teachers' Retirement Fund Bonds Special Capital Reserve Fund, established in section 10-183vv; (2) the Treasurer's duties and obligations under section 10-183vv shall terminate; and (3) the pledges made in section 10-183vv shall not be in effect. Sec. 190. Subsection (d) of section 10-66dd of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2022): (d) (1) An otherwise qualified school professional hired by a charter