CMERS is a public pension plan provided by the state for participating municipalities’ employees. It was started in 1947 and is governed by state statute. Beausoleil wants changes made to the system that he says is handcuffing the town. Increases to the town contribution will have a significant impact on its budget. And there are no increases sought for employee contributions to the plan. Thompson can’t make new retirement plans for new hires unless it withdraws all employees currently under CMERS and covers the full liability costs for all employees. It’s an all-in-or-all-out scenario he said. “It’s a killer,” Beausoleil said. Thompson wanted to go to a defined contribution plan years ago, but couldn’t. And towns can’t create new pension tiers for new hires. Any changes to CMERS have to be made by state legislators.
Town Leaders Look to Hartford For CMERS Help: Denise Coffey, March 14, 2019, Hartford Courant