CONNECTICUT’S BIENNIUM BUDGET AND YOUR RETIREMENT BENEFITS
ARTC lobbied vigorously to maintain a Connecticut tax exclusion for retired teachers. While we were unable to maintain the 50% exclusion as promised for 2017, we were able to maintain the law for 2019.
• The law implementing the 50% tax exclusion on your CT pension income has been delayed for two years. In 2017 and 2018 25% of your teacher retirement income will be excluded from state income tax.
• The state has agreed to make a 25% contribution to our Health Insurance Premium Account over the next two years. This is less than the promised 33% contribution. There remains concerns about the funds sustainability in the future.
ARTC—Please join ARTC now.
Cathy D’Agostino and Sandra Bove