Connecticut Law Protecting Retirees
Public Act 15-167 providing creditor protections to Retirees in pension de-risking transfers took effect on October 1, 2015. Prior to the enactment of this ground-breaking legislation, annuity payments intended for retirement could be garnished by creditors in Connecticut. The legislation was sponsored by Rep. Robert Megna (D-97), Chair of the Connecticut State Insurance Real Estate Committee and co-sponsors Rep. Livvy R. Floren (R-149), Rep. Louis P. Esposito, Jr. (D-116), and Senator Henri Martin (R-31). Retirees For Justice Executive Director, Edward Stone, worked with the now defunct ProtectSeniors.org, a nonprofit retiree advocacy organization, and retirees from the Association of BellTel Retirees to pass this legislation.