Manager salaries have not kept up with union salaries so in a lot of cases you have mangers that are earning less than the employees reporting into them, said Melissa McCaw, the states budget director. Over the next decade, he added, going with one-time bonuses and a smaller inflationary increase saves the state about $150 million. This material may not be published, broadcast, rewritten, or redistributed. CONNECTICUT The state Senate gave final approval to the raise and bonus package for state employees. 3 Connecticut . Howard Drescher of Mansfield, whose daughter has struggled throughout her adult life with mental illness, said the nonprofit community agencies that the state relies on to provide most of its social services cant take another fiscal hit. In this writing, we will cover various factors that will affect your ability to retire before July 1, 2022. You must be fully vaccinated with the primary series of an accepted COVID-19 vaccine to travel to the United States by plane. HARTFORD, Conn. (WTNH) The state Senate overwhelmingly approved a multi-year labor agreement recently ratified by 46,000 unionized Connecticut state employees. 5 This way you can figure out a combination that will provide the income you are looking to receive. The negotiated raises were set for mid-April and Cuomo's move drew ample condemnation from New York's public sector unions. can claim state-level exemptions. The budget includes a $500 pay raise for all state employees. 3% tax rate phase-out and tax recapture for high income earners. Osten said the raises reflect the valuable work state employees provide daily, and particularly throughout the coronavirus pandemic. Greenwich resident Red Jahncke is president of The Townsend Group International, a business consultancy in Connecticut, and a freelance columnist published in national and Connecticut newspapers. We felt one of the most efficient ways and equitable ways to make a dent in this challenge was to go back and provide those same increases to the managers that had already been given to our union employees.. That includes Gov. Thirty percent intend to leave the state upon retirement. Those who fall under the Tier 2 or 2a plans must be either age 60 with 25 years of service or 62 with 10 years of services to be eligible for normal retirement. $3.1 billion rainy day fund$3.95 billion in black ink this fiscal yearA grand total of slightly more than $7 billion. McCaw said some of the prior management positions that are now unionized include the assistant attorney general, state police captains and lieutenants, supervisors with the Department of Children and Families, parole managers and deputy wardens. Please reload the page and try again. They also cover the next two fiscal years and potentially 2024-25 as well though unions have the option of reopening wage talks before then. Only limited exceptions apply. Fazio cited a study by the American Enterprise Institute, which found that Connecticut state employees on average are paid 5.6 percent less in salary than a private sector employee with similar qualifications. A multi-year labor agreement recently ratified by 43,000 unionized Connecticut state employees faced a key vote . The CREATES report noted that 8,000 employees are eligible for retirement before July 2022 and identified 200 opportunities totaling $600 to $900 million of potential value., **Ken Girardin contributed to this article**, So of you retire prior to October 2021 and receive Your Cola 9 monthe later in July 2022 , will you receive above the normal 2 percent since inflation Is hIgh. The Office of the State Comptroller reports that state government found a way to spend $47.11 billion in 2022 and, if trends continue, we can expect that number to grow even more going forward. For the average pensioner, receiving $39,887 per year, the COLA increase would amount to an annual increase of $1,435.92. But to limit the cost of the pay raise in its first year, it will not go into effect until Jan. 1, 2022. Retirement: Appropriators provided funds sufficient to pay the annual retired contribution amount on the state's retirement plan. Another benefit of continuing to work is that it shortens your retirement horizon putting less pressure on your income in retirement. Despite Lamonts claims to the contrary, it is highly likely that he will award state employees significant future wage increases as well as a generous modification of cost-of-living adjustments to their pensions after their retirement. 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. Therefore, if you are retiring before age 65 and after the July cutoff, then you will be subject to increased premiums. Therefore, some retirees will experience out of pocket costs that they wouldnt have before. Salary: Legislators appropriated funds equivalent to a 1.25% cost of living allowance for state and higher education employees. Ned Lamont contracted with the Boston Consulting Group for a report of how to increase state government efficiency. As introduced before the House Appropriations Committee Wednesday, the 2022-23 State Employee Pay Plan would keep base salary wages for most state employees stagnant through fiscal year 2022, which runs from July 2021 to June 2022, and then provide a 55-cent-per-hour raise in fiscal year 2023. 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. But Osten said the agreements are essential to maintain a state workforce that is at its smallest size since the 1950s, an argument Lamont has made as well. Ned Lamont asking union employees to forgo the raise amid record high unemployment and a growing state budget deficit caused by the coronavirus. State retirees receive minimum 2 percent COLAs per year regardless of the inflation rate and a maximum of 6 percent or 7.5 percent, depending on their retirement tier. State Budget passes including significant funding for state employees TSEA April 29, 2021 0. You can listen to my podcast Avoid Overpaying for Medicare in 2021 and Beyond to get a more detailed explanation of IRMAA and strategies to potentially avoid it. With that in mind, there are two significant changes to the CT State Employees Pensions that will affect those who retire on or after July 1, 2022. We had more people employed in the private sector in 2007 than we do today. Gov. The agreements, which unions ratified earlier this spring, are retroactive to the start of this fiscal year, which began last July 1. The. In addition, full-time workers would receive a $2,500 bonus in mid-May and another $1,000 bonus in mid-July. Most plans require at least 25 years of service with the State. 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. The state and unions have the option of continuing the same level of raises for the fiscal year beginning July 1, 2024, or they can negotiate different compensation levels. 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. 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. House passes raises, bonuses for CT state employees By Keith M. Phaneuf / CTMirror.org Published April 21, 2022 at 5:22 PM EDT The House of Representatives approved a four-year package of raises Thursday that includes $3,500 in bonuses later this spring and summer for about 46,000 unionized state employees. Ned Lamont in Darien earlier this month. If you worked in CT and then decided to retire elsewhere, then the number of plans you can choose from will be more limited. Administrators will have discretion in how such raises are implemented. Private-sector employees can only dream of having that, said Sen. Henri Martin, R-Bristol. 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. Once you determine your projected income, evaluate if you will have enough money coming in to cover your expenses. Carney's budget plan was built off DEFAC's December revenue estimate of $4.765 billion for FY 2022. Privacy Policy. Setting your budget for retirement. This way you could avoid paying the recently increased premiums for your insurance. Ron DeSantis has been a staunch advocate for police officers and has pushed for bonuses for that group. We promise to never sell your information or overload you with emails. Keith M. Phaneuf / CT Mirror; Mar 9, 2022 . The Senate gave final approval Friday to a four-year package of raises for state employees that includes $3,500 in bonuses to help stem a surge in worker retirements. Morrissey Wealth Management LLC is a Registered Investment Advisor. Salary Increase Cost of Living Adjustment (COLA) for Certain Non Represented Employees E Item 2664. The Connecticut State Legislature will begin its 2023 session on January 4thand will adjourn on June 7th. Travel Requirements for Non-U.S. Citizen, Non-U.S. In the past, similar planned changes to retirement benefits have triggered waves of retirements before the changes take place, the OLR report states. By, Corporate Support: Advertising & Sponsorship, See stories by Keith M. Phaneuf / CTMirror.org, Connecticut COVID data: Your town's infection rate, hospitalizations & vaccinations, Israeli army arrests Palestinian suspects in deadly shooting of West Hartford man, Democrats hold three CT House seats in special elections, Dominicans in Connecticut celebrate 179 years of independence, Why it could be harder to get certain prescriptions as pandemic health emergency ends, As new research suggests COVID-19 is now endemic, physicians push back, Long COVID rates fall by half nationwide, New England rates among lowest, Long COVID researchers in CT to get part of $10 million in federal funding. But Shirley Watson, a unionized clinical social worker for the past eight years at the MacDougall-Walker Correctional Institute in Suffield, noted the relative affluence of many who oppose the raises. DARRELL HACKETT In a contributory plan the employee pays a portion of his/her regular salary towards the pension while the employer fully covers the plan in a non-contributory. 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. It is important to There was an error and we couldn't process your subscription. The House Finance Committee changed that to be a $10,000 raise for all troopers. Use Next and Previous buttons to navigate. Alabama Gov. The deal thats been presented to you is going to radically diminish the General Assembly and this committees discretion over spending for years to come, warned Ken Girardin, Yankees research director, who predicted it would eventually strip funding from social services, municipal aid and the states ability to offer tax cuts to Connecticut households. Several Republican lawmakers decried the deal and said it would exacerbate Connecticuts fiscal woes. He has been the state finances reporter at CT Mirror since it launched in 2010. The Senate bill contains language providing for a "similar" raise in the second year, based on a Personnel . 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. Employees will receive one-time $1,000 bonuses and an additional $500 for those making less than $75,000 a year. If the proposal becomes law, it will be the first cost-of-living adjustment for Georgia employees in 14 years, Kemp said. 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). All Rights Reserved. To that end, we have produced a new edition of our Charter for Change. An example would be the Military Buyback Program that allows qualified veterans with active duty military service time to receive credit for their military service time to be added to their years of civil service. Republicans countered Friday that the raises and bonuses far outstrip what households in the private sector are receiving. The tentative contract, which also delivers a 10.9% raise to most of the workers, is the first full state contract agreement of this year. Ned Lamont defended raises and bonuses Tuesday that could boost state . ThanKs Vin, Lyle Scruggs Retirees that qualify for Medicare are currently reimbursed for the full standard Medicare Part B premium by the State. Dannel Malloy included a provision to change the COLAs for state employees who retire after July 1, 2022. For example, an employee earning 50,000 may receive a $2,500 pay increase resulting in . For example, a 60 year old who is qualified to retire but calculated that money will be tight may want to continue working. Under the plan approved Tuesday, full-time state workers would receive a raise ranging from 2.3% to 9% depending on their pay grade, with the lowest grades receiving higher raises. This report (1) explains why state officials are anticipating a wave of state employee retirements before July 1, 2022, the date when changes to state employee retirement benefits take effect, and (2) uses historical data to provide an estimate of how many employees may retire before July 1, 2022. The agreement would cost the state nearly $1.9 billion over four fiscal years, according to nonpartisan fiscal analysts. An hourly wage increase. The Executive Branch workforce, already down 10% over the past decade, is shrinking faster as retirements surge this spring. The adjustment is designed to make the money received have the same purchasing power regardless of the inflation level. Though all committees include senators and representatives, legislators must vote separately by chamber on contracts. Efficiency is easier in concept than in actual practice. Were not attracting innovation and industry. Ive noticed a lot of the people whove testified against arent in handcuffs, Watson said. Nothing stands in the way of the ever-increasing generosity of state employee compensation. If eligible, your pension benefit will continue to grow, and youll have more money to put into one of the state benefits plans such as the 403b or 457 plans. If you dont have enough money coming in, it may be beneficial for you to forgo the cost-of-living adjustment and retire after July 1, 2022. RPPC Request for Application 2022; RPPC RFA 2022 Addendum #1; RPPC RFA 2022 Addendum #2; RPPC RFA 2022 Addendum #3; RPPC RFA 2022 Public Notice of Intent to Award; RPPC RFA 2022 Addendum #4; RPPC RFA 2022 Public Notice of Final Award; RPPC RFA 2022 Addendum #5; Sudden Infant Death Syndrome (SIDS) Program. After July 1, 2022, these amounts will be increasing to 3% for hazardous duty retirees and 5% for non-hazardous duty retirees. Lamont, who said that in June 2020 when asked about the pay raise to take effect just days later on July 1. Therefore, the old procedure would have provided at least two cost of living adjustments in the same time frame. Employees not represented by a union will only get a 1 percent raise. Southington: Adventure Awaits! 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 2002 Changes will increase the amount deducted from the retirement benefits of certain employees to pay for state-provided retiree health insurance. The $2 billion agreement also includes special lump-sum payments of $2,500 for active employees. The difference between Normal Retirement and Early Retirement is the amount paid out to you. 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. Your donation today will allow us to continue this work on your behalf. Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. The states top rate income tax has been raised from 4.5 percent to 6.99 percent between 2003 and 2015. Ned Lamont speaks at a news conference at Connecticuts Beardsley Zoo, in Bridgeport, Conn. March 29, 2021. Rob Baril, the president of SEIU 1199, in July 2021 arguing that state employees deserve raises. Retirement reduces your benefit by 5/9 of a percent for each month before the normal retirement age up to 36 months. Each year of the package includes a 2.5% general wage increase, as well as a step hike for all but the most senior workers. Bonuses are prorated for part-time employees. What tax reform proposals will there be? And thats why we want to work with you to build a broad-based coalition to encourage sound policy reforms to enable Connecticut residents to forge a better future for themselves and their families. By 2020, the state paid $2.2 billion to 55,348 retirees. 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. The four-year deal, which is retroactive to July 1, 2021, builds upon an agreement the state had reached in 2017 with the State Employees Bargaining Agent Coalition (SEBAC). Authorizes 3.5% Cost of Living Increase effective July 1, 2019 to employees assigned to the MP, MD, SE, DM, CJ-EX & VR, Labor units 02 & 03 pay plans. The time to pay the bill is now at hand, Suzio said, warning the proposed contracts would be an anchor weighing down state finances for years to come. Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. Ned Lamont previously touted the agreement as a way to retain state employees amid a wave of potential retirements. Because of the high rate of inflation, the July COLAs are calculated based on 60 percent of CPI-W, which translates to a bump of 3.6 percent as of July 2021. Ned Lamont pitched an income tax cut in CT. Heres an overview of his proposal, Lamont, legislators heading for a battle over CT spending cap, State Employees Bargaining Agent Coalition, Proudly powered by Newspack by Automattic. For retirees who receive their COLAs in January, the trend was more in their favor with three years of inflation increases topping 2 percent. Consistently, studies show that the compensation of Connecticut state employees exceeds average private sector compensation by one of the highest margins of the 50 states. They arent in psych hospital beds. A salary increase of a specific dollar amount distributed across pay periods. "It has been an incredibly challenging year, but today is a good day for state employees," TSEA Executive Director Randy Stamps said. Today were living in a post-COVID world, where employees and not employers are ruling the job market, said Sen. Cathy Osten, D-Sprague, co-chairwoman of the Appropriations Committee. For those who qualify for a pension, we would recommend going on the State of Connecticut website to get an estimate of what your pension will be. Mike Parson, a Republican, has proposed raising pay for state workers to at least $15 an hour. community-supported public media service, Connecticut Public has relied on donor support for more than 50 years. Ned Lamont previously touted. BCG was to help accelerate efficiency efforts, enabling the state to operate with less manpower. Beginning after the July 1, 2022 cut off, the State has relinquished their obligation to adjust pension payments at least 2% (current minimum) for inflation. Colorado's roughly 30,000 state workers are slated to get pay raises in each of the next three years under a labor agreement signed Thursday morning by Gov. Attracting people to fill managerial roles will become even more important as the state prepares for a coming wave of employees retiring next year. The raise includes a 3.5 percent pay increase and a two percent annual step increase. Julia Bergman is a reporter with Hearst Connecticut Media Group. listeners, viewers, and readers like you who value fact-based journalism and trustworthy information. Comment * document.getElementById("comment").setAttribute( "id", "a3e52856316f31f31c1e5f9d43201c8c" );document.getElementById("h4d5fc382f").setAttribute( "id", "comment" ); 216 Main StreetHartford, CT 06106[emailprotected], 2021 Yankee Institute for Public Policy. Here are five things to know about the deal: Employees covered by the State Employees Bargaining Agent Coalition would get a 2.5 percent wage increase and step increases retroactive to July 1, 2021. CT Mirror. In 2015, Connecticut paid $1.7 billion to 49,111 retirees, according to the Comptroller's Open Pension website. Currently, those premiums are 1.5% for hazardous duty retirees and 3% for non-hazardous duty retirees. CONNECTICUT Thousands of state employees received a scheduled raise Wednesday despite Gov. March 17, 2022 Veterans Pay Raise Hiring The Veterans Affairs Department is seeking more authority to boost pay for its employees and hire new ones faster, while also vowing to offer. During that time Connecticuts average pension payment increased 15 percent from $34.589 in 2015 to $39,887 in 2020. While the bonuses weren't expected until early 2022, they are now expected to be paid before the end of December, Menghini said, with raises coming next year, once the University receives further guidance from the UNC System . Brief summary of Connecticut state income tax: subject to 0.5% Paid Family and Medical Leave. How will schools be implementing to curriculum requirements? 10:27 pm, When will REtirees see the 6% in pensions im tier 2, TO vinny, you get The first increase 9 months after you retire, 60% of CPI W. This month, that estimate was revised to $5.124 billion. Delaying these raises for state employees can mean someone else who works at a nonprofit can go back to work and provide needed care for someone who is physically, mentally, or emotionally struggling.. That sum hasnt changed much in two decades. By Jessie Bur. Tier 3 is a contributory plan that includes employees first hired on or after July 1, 2011 except for certain employees in higher education who are eligible to participate in another retirement plan. However, those who retire after the July 1st cutoff could be negatively impacted as they could experience cost of living adjustments below 2%. Gov. December 30, 2021 @ Spring & Summer at Mt. 4:04 pm. Connecticut Property Taxes In Every Town: Who Pays The Most? Theirs includes a child tax credit set to begin in 2024, and an expansion of the earned income tax credit for the working poor. The raises do not apply to employees in the legislative and judicial branches or higher education. Are more state employees retiring than usual? From there, you can test a few different scenarios in the calculator using higher salaries and/or more years worked. The opportunities to advance students learning are endless. Massachusetts enacted a measure (HB 4640) to increase the state minimum wage to $15 over five years. 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. There are a few strategies one can take if they are thinking about retirement. The House bill . At a time when everyone is sacrificing so much, when jobs are disappearing around us, a small sacrifice of temporarily pausing a pay increase can go a long way, Fasano said in late April. The Democratic-controlled Senate voted 22-13 along party lines to approve the contracts, which cover about 46,000 workers the bulk of the state's workforce. Polis said the benefits guaranteed in the agreement with Colorado WINS will help "ensure that we can attract great people to our state workforce to do the work of the public for . While unions and Lamont argue the raises and bonuses will help stem a surge in state employee retirements, Drescher isnt buying it. Would he risk all the ARPA funds that the state has by doing this? Ritter warned. Also that number would be $53,582.00. Budget panel endorses raises, bonuses for CT state workers Full legislature expected to vote before May 4 by Keith M. Phaneuf April 18, 2022 @ 1:08 pm Rob Baril, the president of SEIU 1199,. One source is a pension, another is Social Security, and the last depends on how much you have invested in retirement funds. Unions granted concessions deals in 2009, 2011 and 2017 to help balance state finances. 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. Inevitably, it will be highly unpopular, so the announcement will be buried as deeply as possible and spun like a top by Lamonts spokespeople. As we noted in a report andCT Mirrorop-ed last year, the debate over whether were in a national recession really misses the point for Connecticut residents. Therefore, the elimination of the minimum cost of living adjustment is something to consider for those who plan to retire after the cutoff. Theyre in their lovely backgrounds. The managers who will receive the raises include division heads at state agencies, as well as commissioners and. Get CT Mirror briefings with enterprise reporting, investigations and more in your inbox daily. The raises will cost the state $13.3 million and the bonuses $2 million. As a Please stop trying to buy votes from the state workers and recognise you have much broader responsibilities, James Solberg, a financial services executive from Darien, testified Monday. Spokesmen for Attorney General Ken . Thank you for being generous with your email. And with $3.1 billion in its rainy day fund and a $2.7 billion surplus forecast for the current fiscal year, the states short-term fiscal position is strong. 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. FY 2022 Financial Results At or Above High End of Guidance with Practice Collections Growth of 49.1% compared to FY 2021; New Market Entries announced in Connecticut, Delaware, No 44 crash, Over 100 animals rescued, 7 found dead on Conn. farm, Bloomfield police follow footprints to shooting suspect, Avon police warning homeowners after string of burglaries, Old Saybrook family grateful for Rare Disease Day, National charter school org honors late Rep. Williams, Eyedrops infected Conn. nursing home patients, Unofficial special election results for CT House, Milford school brings galaxy to classroom with planetarium, Mohegan Tribe opposes current CT river renaming bill, Do Not Sell or Share My Personal Information. 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 gave final approval Friday to a four-year package of raises for state employees that includes $3,500 in bonuses to help stem a surge in worker retirements. 4Thand will adjourn on June 7th are thinking about retirement to consider for making! Overwhelmingly approved a multi-year labor agreement recently ratified by 46,000 unionized Connecticut state employees that. Less manpower mike Parson, a 60 year old who is qualified to retire before July 1 depends how... And 3 % tax rate phase-out and tax recapture for high income earners $ million... Of reopening wage talks before then full standard Medicare Part B premium by the coronavirus on.. Generosity of state employees provide daily, and readers like you who value fact-based journalism and trustworthy information the?. Will cover various factors that will affect your ability to retire before July 1 2022! A Registered Investment Advisor between Normal retirement and Early retirement is the amount deducted from the retirement of! 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