Sign up for free Patch newsletters and alerts. With only 41 weeks remaining to replace retiring employees, the Lamont administration is fast approaching a severe manpower crisis. A wave of state employee retirements is expected in the coming months, resulting in an "unprecedented" loss of knowledge and skills, some officials say. CT DOT faces criticism following overnight tree-cutting, Haar: Payouts at fading CT trash agency offer lessons in a crisis, State nursing homes could face fine due to too many empty beds, CT legislators revive debate over firefighters' cancer benefits. From there you would input your highest three years of work history, and the number of years that you have worked for the State including any years you may be eligible to buyback. This differs from public transport where the pick-up and drop-off locations are decided by the service provider, not by the customers, although demand . If inflation were 1% Then the absolute COLA would be low, but the burden on the state budget and taxpayers would be growing, because inflation under 2% leads to a real pension burden increase. The announcement Thursday from the governors office of the 7.5% raises comes as union workers ramp up their fight for wage increases in their new contracts, which they are currently negotiating with the state. If you are married, then you can choose between the joint payment options that would either leave your spouse 100% or 50% survivor benefit, or an alternative would be a period certain option. Behind him to the left is Sal Luciano, president of the state AFL-CIO. A benefit of the plan is that retirees are eligible for a cost of living adjustment every twelve months after that. CONNECTICUT University of Connecticut men's basketball head coach Dan Hurley topped the list of highest-compensated state employees in 2021 with $3.6 million in total compensation. If the number of months before normal retirement age is larger than 36, then your benefit would be reduced by 5/12 of one percent for all additional months. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. By the latest estimates of the comptroller's office, 14,764 state employees a quarter of the workforce will be eligible to retire on July 1, 2022, when a concession deal negotiated in . Ned Lamont administration to attract more people to stay and move into these jobs, and to make their salaries more in line with unionized workers. This proposed contract is a raw deal for the working people of this state, said Sen. Ryan Fazio, R-Greenwich, who noted state workers, on average, would receive more than $10,000 in total added compensation over four years. But former state Sen. Len Suzio, a Republican from Meriden, said Connecticuts long-term fiscal position is very different. The Senate version would spend about $2.2 billion on 5% pay raises in each year for state and state-supported local employees, including teachers, plus $1,000 one-time bonuses. CT Mirror. So why might Lamont do something so patently unfair and so politically toxic as awarding pay raises to already overcompensated state workers while most Connecticut citizens and voters have been and still are hurting very badly? Keep in mind, if you do not qualify for normal retirement in any of these plans, then you will not receive the full amount of the benefit. Retirees that qualify for Medicare are currently reimbursed for the full standard Medicare Part B premium by the State. Will California state employees get a raise? "The state has to live within its means just like the families and businesses we serve and represent," Lamont said in a statement when the deal was announced. Labor agreed to a 2.5% cost of living increase only because lump sum bonuses were offered, he said. Each of the 3.6 million residents in Connecticut rely on the critical public services state workers provide whether you are standing in line at the DMV, attending a technical school, community college or state university, getting treatment at UConn Health, driving on our roads and bridges, enjoying a state park or beach, or any of the other ubiquitous public services you will be uplifted by these fair and honorable contracts, the State Employees Bargaining Agent Coalition wrote in a statement after the Senate vote. The issue raised by representatives of the NSHE faculty alliance is that employees represented by a collective bargaining unit a union are in line for a 3 percent pay raise in 2023. For retirees who receive their COLAs in January, the trend was more in their favor with three years of inflation increases topping 2 percent. We would recommend checking out my podcast episodes Properly Estimating Retirement Cash Flows and A Retirement Income Planning Strategy That Works as they would provide useful guidance on this process (put retirement budget here). Currently, those premiums are 1.5% for hazardous duty retirees and 3% for non-hazardous duty retirees. The negotiated raises were set for mid-April and Cuomo's move drew ample condemnation from New York's public sector unions. According to the Office of Legislative Research in their analysis of a potential retirement wave, COLAs for new retirees will match the CPI-W during years it is 2 percent or less. Behind him to the left is Sal Luciano, president of the state AFL-CIO. It also created a hybrid 401k-style/pension plan for new state employees that is far less generous than the plan for current employees at the time. Education employees would receive a 2% raise. The Executive Branch workforce, already down 10% over the past decade, is shrinking faster as retirements surge this spring. Besides, all three of these difficult and only marginally helpful alternatives share one huge liability: The SEBAC unions will fight them tooth and nail, because all three reduce the number of unionized state employees paying dues to the union. The deal is now final since the state Senate and House approved it. There are a few strategies one can take if they are thinking about retirement. Photos: Iconic Landmarks To Visit Across CT. 5 We had more people employed in the private sector in 2007 than we do today. Employees will receive one-time $1,000 bonuses and an additional $500 for those making less than $75,000 a year. How Are My Health Insurance Premiums Changing? They will also experience decreasing purchasing power throughout their first 30 months of retirement until the first cost of living adjustment. I see the sacrifices every day, said Sean Howard, a union official and one of 4,500 unionized state correction officers most of whom risked contracting the coronavirus over the past two years. Concerns over energy prices, inflation, and general cost of living continue to dominate the headlines and the threat of a recession hovers over economic forecasts. Therefore, it really depends on your situation and if you are unsure or need help then it may be a good idea to get in touch with a financial planner. For the 100,000 state and university employees, it's the first day that a $5,000 pay raise kicks in. Because the state is facing a massive retirement wave, which, if mishandled, could cripple state government. Its some short-term spending and relief for our taxpayers in order to get that long-term gain, Candelora said. (Sorry for the caps, wont let me shift), Hope McKiernan Good question Hope I cant find the answer either. Therefore, the elimination of the minimum cost of living adjustment is something to consider for those who plan to retire after the cutoff. Not the fact that Connecticut has had a big contraction in its workforce during the pandemic of about 6 percent and a top 10 unemployment rate, currently exceeding 7 percent, versus a national average nearing 5 percent. A salary increase of a specific dollar amount distributed across pay periods. (Patrick Semansky/AP) Feds under the general . Administrators will have discretion in how such raises are implemented. Missouri Gov. Meanwhile, for the 170,000 K-12 employees, a $2,000 bonus is on the way before June 30. Would this be what he does? State Budget passes including significant funding for state employees TSEA April 29, 2021 0. For more information, see Requirement for Proof of COVID-19 Vaccination for Air Passengers. Our economy has grown at one of the slowest rates in the nation for the past decade, and we are getting outpaced year after year. Lamont will give big fat raises to state workers, Christian Abraham / Hearst Connecticut Media, 2023 Hearst Media Services Connecticut, LLC, Bridgeport police chief wants public to rate officers' service, CT animal shelter is closing, has 66 days to place remaining pets, Police: Man followed and touched customers in CT store, Bridgeport BOE turns to Nebraska firm for superintendent search, Greater Bridgeport digs out quickly from season's first snow, In contract stalemate, Bridgeport police may switch union, Cops: CT man involved in crash after being shot in neck, Warrant: EMT accused of kidnapping broke into CT home in 2019, Bridgeport man convicted in 1993 gets sentence cut to 37 years, the median American household saw its income fall 2.9 percent last year, Comedian Kevin Hart announces 'Reality Check' tour stop at Bridgeport amphitheater, Woog's World: Compo Beach shouldn't just be for Westport, Closing Monroe animal shelter has 66 days to find homes for remaining pets, 'Saturday Night Live' skit with Woody Harrelson takes place at Naval Submarine Base New London, Residents speak out against Stratford's first proposed cannabis store, EMT accused of kidnapping co-worker in Bridgeport broke into home of exs relative in 2019, warrant shows. State employees will get a 3.5% raise this year, which is an increase of 1% beyond what they were already slated to receive this year. Governor, show some courage, join hands with the Republicans so we can get a budget that helps the entire state of Connecticut, not just a few, Candelora said. Ned Lamont in Darien earlier this month. Spokesmen for Attorney General Ken . The state has a windfall of $1 billion from recent sales tax collections due to inflation, boosting the surplus to nearly $4 billion. New York government officials confirmed on Thursday that Gov. A multi-year labor agreement recently ratified by 43,000 unionized Connecticut state employees faced a key vote . Connecticut Property Taxes In Every Town: Who Pays The Most? Tier 2 is a non-contributory defined benefit retirement plan (for most members), and those employees that were hired between July 2, 1984 and June 30, 1997, while Tier 2a is a contributory defined benefit retirement plan for those hired between July 1, 1997 and June 30, 2011. The state felt that the 2.5% was an amount that was affordable and was less than what likely would have been granted at arbitration, Beckham said. CONNECTICUT The state Senate gave final approval to the raise and bonus package for state employees. She previously reported on the military for The Day newspaper in New London. To that end, we have produced a new edition of our Charter for Change. If you are retired but not yet 65 years old, then you are not (currently) eligible for Medicare. According to the Office of the State Comptroller, as of November 19, 2020, there were 13,066 state employees (full-time and part-time) who are eligible for normal or early retirement before July 1, 2022. According to state employee union documents, Lamont is proposing to award all unionized state employees three annual base salary increases of 2.5% and, for about two-thirds of employees, annual "step increases" of 2.0%. The Lamont administration, labor leaders and other supporters of the increases have said they believe unions could have gotten even larger raises had they rejected the states offer and gone to arbitration. How much money does the state have to spend on programs? What will our elected officials be working on to improve policy outcomes for Connecticut residents? For some of Connecticuts highest paid pensioners like Jack Blechner, a former UConn Health Center physician who received $342,325.14 in 2020, the COLA amounts to an additional $12,323.70 per year. Not this weeks data release showing that the median American household saw its income fall 2.9 percent last year while Connecticut state employees got a 5.5 percent wage increase. The Senate bill contains language providing for a "similar" raise in the second year, based on a Personnel . Published April 21, 2022 Updated on April 21, 2022 at 2:04 pm. Each year includes a 2.5% general wage increase, as well as a step hike for all but the most senior workers. The changes will only affect those who retire after July of 2022, but according to the OLR report, historically such changes have resulted in a larger number of employees retiring before the cut-off date. Kay Ivey, a Republican, has called for upping state employee and teacher pay by 4%. Republicans countered Friday that the raises and bonuses far outstrip what households in the private sector are receiving. The virtually inevitable pay hikes and favorable benefit modifications will then be classified as hardship pay to reward for employees for their phantom frontline service.. One source is a pension, another is Social Security, and the last depends on how much you have invested in retirement funds. The $2 billion agreement also includes special lump-sum payments of $2,500 for active employees whove been on the job since March 31 and $1,000 for those employed as of July 15, 2022. Part-timers would be eligible for prorated bonuses. There is also a large group if tier 1s who receive 3% guaranteed, no inflation adjustments. Democrats were united Thursday in approving the agreement while all but one Republican, Rep. Tom Delnicki of South Windsor, opposed the legislation. Thats because state governments coffers are flush with cash as never before. It seems the safest short-term solution is to declare the area off-limits for humans at least for the near-term future, pending additional studies. Lamont Nominates Bryan Cafferelli As Consumer Protection Commissioner, CT Native, 27, Killed In Apparent Terrorist Attack In Israel: CT News, Wild 2-Car Shootout Involving Teens Locks Down Schools: PD: CT News, 3 Brentwood HS Students Make PBS '20 Under 20' List Of Storytellers, Brothers Kill Groom On Wedding Night: Authorities, Carjackers Steal More Cars Many With Kids Still Inside, Naperville Family Opens Home, Hearts To Welcome Kids Who Lost Parents, Dog Abandoned With Handwritten Note 'A Good Boy,' Loves To Hug & Kiss. Who plan to retire after the cutoff Connecticuts long-term fiscal position is very different state Len! A large group if tier 1s who receive 3 % guaranteed, inflation... Are a few strategies one can take if they are thinking about retirement,! Year includes a 2.5 % general wage increase, as well as a step for! Bonuses far outstrip what households in the private sector in 2007 than do! 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