As discussed above, a SERS member who retires today will not be eligible to receive a COLA until at least nine months have elapsed from the members retirement date. It seems that JavaScript is not working in your browser. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email a link to a friend (Opens in new window). 2016 CT.gov | Connecticut's Official State Website, regular If more than 5 years early, use 5. The bonuses, the GOP argued, are hardly the key to retaining workers, as Lamont has claimed. Human Resources Job Aids. After this initial fill, you must The agreement calls for 2.5 percent general wage increases and step increases retroactive to July 1, 2022. You can view a PDF of the 1199 State Employees Contract by clicking HERE. In exchange for doing so, HEP participants qualify for lower monthly premiums, reduced copays and don't pay an in-network deductible. If youre going to get a bonus, youve got to stick around with us for a while, said Rep. Jay Case, R-Winsted. Under current premium rates, these percentages mean that employees must pay between $0 to $101.14 per month for retiree health insurance. We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. If you are in the POS Plan, you'll pay 40% of the cost for out-of-network tests. Ned Lamont says are essential to help stem a surge in state employee retirements, are expected to be ratified Friday by the Senate, where Democrats also hold a majority. Whoops! The percentages cited above are percentages of employees insurance premiums, The effect of this change on any given retiree is. Ned Lamonts administration on Friday transmitted agreements reached on 35 labor contracts that cover 43,000 unionized state employees to the General Assembly for consideration. You'll continue to pay nothing if you receive care at a Preferred lab! To find a Preferred provider, visit www.Anthem.com/statect or www.welcometouhc.com/stateofct. The second rule states that a member does not become eligible to receive a COLA until at least nine months have elapsed after the members retirement date. The earliest retirement date for employees who terminate their employment after the rules go into effect will be August 1, 2022. They should not affect the retirement planning of most SERS members, including: members who reach Normal Retirement Age before July 1, 2022; and. In addition to the new formulary, the generic drug tier will split into two tiers: Preferred and Non-Preferred. Posted 2:07:12 PM. the future benefits accruing to . Please note, however, that only employees whose income is above a certain threshold amount must pay the IRMAA. It seems that JavaScript is not working in your browser. I think the governors being somewhat less than candid and frank with the public, Kelly said, adding that workers in the private sector arent enjoying compensation hikes close to those state employees would receive. 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, saves the state about $150 million over the next decade. This means smart health care shopping can help you pay less when you need care. Please take note of the following important facts about this change: Under current rules, a retired Connecticut employee and/or dependent(s) who has become eligible for Medicare must enroll in Medicare. The precise effect is impossible to forecast, because it depends on such matters as future rates of inflation, future costs of health insurance and Medicare, and the number of years each employees retirement will last. Learn More Large Group Plans John Herrington, Director This 1% COLA will have the effect of equalizing the annual salary of each grade and step between the STD and ASTD salary scales. SEBAC & the State Choose Arbitrator and Set a Date. The details regarding insurance costs are provided below. For SERS members who retire on or after August 1, 2022, the formula will be slightly modified: In any year for which the CPI-W is two percent or less, the COLA will be equal to the CPI-W. The cost of the current agreement to the state is $1.87 billion but that figure will likely rise as it assumes zero raises in the fourth year. Preferred Provider program will be beginning soon. The payments are made through deductions from the employees retirement benefits (or billed directly to the retiree should they not receive a monthly pension benefit). It also describes steps the state is taking to . Employees who have retired under a Normal Retirement are responsible for the following portions of their premiums: From 0% to 1.5% for hazardous duty retirees and retirees with 25 or more years of service; from 1.5% to 3% for all others. But most House Republicans who spoke in Thursdays debate predicted taxpayers wouldnt be as happy as state employee unions are. More than 30 state employee bargaining units have ratified contracts that would provide more than 40,000 workers with $3,500 in bonuses by July, along with three years of raises, the State Employees Bargaining Agent Coalition announced Friday. In other words, SERS retirees will no longer be guaranteed an annual COLA of at least two percent in years for which inflation is low. HEP encourages you to take an active role in your health by getting age appropriate wellness exams and screenings. The. The taxable wage base remains $15,000 for each employee in 2023. Copyright 2002 - 2021 Office of the State Comptroller, https://www.osc.ct.gov/empret/tier2summ/workshop/disclaimer.htm. Madison Republican Bob Stefanowski, who lost the 2018 gubernatorial race to Lamont and is seeking a rematch this year, has called the agreements politics, pure and simple, when they were first reported last month. Departments and Agencies The 35 labor contracts, which were ratified by the various unions last month, include 2.5% general wage increases and step increases retroactive to July 1, 2021. listeners, viewers, and readers like you who value fact-based journalism and trustworthy information. New employers pay 2.8% in 2023. Mandatory 90-day Supply for Maintenance Drugs. For 2021, IRMAAs ranged from $71.70 per month, for those whose income was equal to the threshold amount, to $433.50 per month, for the highest earners. Deserves got nothing to do with it, Rep. Thomas ODea, R-Ledyard, said, citing the famous dialogue Clint Eastwoods Western outlaw uttered in Unforgiven, the 1992 Academy Award-winning film. Compensation Schedules, JULY 1, 2019. The extra COLA will be calculated on the basis of the CPI-W for that initial, 18-month period of high inflation. These changes (which this document will call the "2022 Changes") go into effect as of July 1, 2022(the "Effective Date"). The formula used took 60% of the increase in the Consumer Price Index ( CPI-W) up to 6% and . Advancing Next Annual Increment Date. DY 37.5 Hour Dentist Pay Plan Effective July 1, 2022. State government not only enjoys a $3.1 billion rainy day fund, equal to 15% of annual operating costs the maximum allowed by law but the current fiscal year is on pace to close an unprecedented $4 billion in the black. It is also important to observe that each of the 2022 Changes has a distinctive set of rules, and some of them will not affect every retiree. The 2022 Changes will increase the amount deducted from the retirement benefits of certain employees to pay for state-provided retiree health insurance. SERS members who reach Normal Retirement Age before July 1, 2022; and members who grandfathered, by purchasing the right to retire under the current Normal Retirement Age rules. 2023 The Conneticut News Project. 2023 HR Calendar. The coalition, which represents most state employee unions excluding the state police, added that It is a critical step in resolving the current staffing crisis that is the consequence of decades of disinvestment and austerity., Lamont spokeswoman Lora Rae Anderson said, Were happy the House has passed the SEBAC agreement, and we are hopeful the Senate will do the same.. Deserves got nothing to do with it, Rep. Thomas ODea, R-Ledyard, said, citing the famous dialogue Clint Eastwoods Western outlaw uttered in Unforgiven, the 1992 Academy Award-winning film. Keynesian economics (/ k e n z i n / KAYN-zee-n; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation. We are pleased to share that the only change made for 2022 is a slight increase to dental rates. Connecticut has more per capita debt than most other states, and those long-term obligations are expected to put considerable pressure on state finances for decades to come. Find a Listing of State Compensation Plans. He has been the state finances reporter at CT Mirror since it launched in 2010. 2 SUBSTANTIVE CHANGES Article 2.15 and 2.16 Labor Contract training made available to teammates and people leaders. 2016 CT.gov | Connecticut's Official State Website, regular It could be because it is not supported, or that JavaScript is intentionally disabled. These retirees currently contribute to the cost of their insurance (as well as coverage for enrolled dependents) at the following rates: from 0% to 1.5% for hazardous duty retirees and retirees with 25 or more years of service; from 1.5% to 3% for all others. DM 40 Hour Pay Plan Effective July, 1 2022. Some of the features on CT.gov will not function properly with out javascript enabled. "Agreement Between Bridgeport Board of Education and Bridgeport Council of Administrators and Supervisors, American Federation of School Administrators, Local 46, AFL-CIO." 2019 - 2022. In that case, the members pension will be calculated by making an age-based reduction to the amount produced by the Normal Retirement Formula. It could be because it is not supported, or that JavaScript is intentionally disabled. Your donation today will allow us to continue this work on your behalf. Since 1997, the State has used a formula to calculate the minimum cost of living adjustment. State government coffers have swelled since 2018, due in large part to a robust stock market that has bolstered income tax receipts tied to capital gains and other investment earnings. In 2021, individuals who reported an adjusted gross income for 2019 of $88,000 or more, and couples who reported income of $176,000 or more, were required to pay the IRMAA. [learn more] Contact the Customer Service Center Retirement Services Division Office of the State Comptroller 165 Capitol Ave Hartford, CT 06106 (860) 702-3480 osc.rsd@ct.gov More state retiree information Employees who have retired under an Early Retirement pay different percentages for their healthcare coverage. If you already use an in-network PCP or specialist, there's a good chance your doctor is a Preferred provider. Tier 1 (generic): $0 copay Ned Lamont's administration, according to a settlement document obtained by the CT Mirror. Certain high-income retirees must also pay an additional monthly premium for Parts B and D. (Part D provides prescription drug coverage.) Because those who retire on or after August 1, 2022, will be reimbursed for only 50% of their IRMAAs, any such enrollee who reported income over the 2022 threshold for the relevant tax year would not be reimbursed for payments ranging from $35.85 to $216.75 per month under current rates. Rob Baril, the president of SEIU 1199, in July 2021 arguing that state employees deserve raises. Copyright 2002 - 2017 Office of the State Comptroller, Available in Anthem's and United Healthcare/Oxford's Network, Select list of in-network specialists in one of ten medical specialties, Have a non-life-threatening medical concern or long term condition, or need a routine checkup, $0 copay for Preferred in-network providers; $15 copay for Non-Preferred in-network providers, Need medical guidance or information related to a symptom, treatment or surgery, Have a non-life-threatening minor ailment such as a cold, ear infections or sore throat, Have a condition that is more than minor but not life-threatening (e.g., cuts or other superficial wounds, moderate burns sprains), Have a life-threatening concern such as shortness of breath, severe chest pain, severe wound or broken bone, $250 copay; In certain circumstances, including actual emergencies or if you're admitted to the hospital, your copay will be waived. . Under current rules, the Normal Retirement Age for members of Tiers II and IIA of SERS is age 62except that it is age 60 for members with 25 or more years of vesting service. The contracts allow workers to accept the $2,500 extra payment and still retire before July 1. When locality pay adjustments are factored in, the average federal employee's salary grew by 2.7 percent. 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. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Effective July 1, 2022, retirees will continue to be reimbursed fully for the standard premium for Part B. However, high-income retirees will receive a reimbursement of only 50% of any IRMAA they are required to pay. General Employee Benefits As a State of Connecticut employee you may be entitled to a host of benefits that are not only attractive, but also may be portable should your career bring you to other avenues of state service. sebac_website_graphics_8.png. Your Payroll Deductions Effective 10/1/17 - 6/30/18. Under a Normal Retirement, the monthly pension payable to a SERS member is calculated under a formula that this document will call the , Under an Early Retirement, the members pension is calculated by (i) applying the Normal Retirement Formula, and then (ii). 2023 The Conneticut News Project. Connecticut Governor Lamont has proposed to award state employees significant wage increases and bonuses over three years. Your behalf n't pay an additional monthly premium for Part B Preferred!... More than 5 years early, use 5 but most House Republicans who spoke in Thursdays debate predicted wouldnt... 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