OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CONCERNING EXPENDITURES AND REVENUE FOR THE BIENNIUM ENDING JUNE 30, 2015.
LCO No.: 8576
House Calendar No.: 678
OFA Fiscal Note
The amendment does not result in a fiscal impact to the state in FY 14 and FY 15 as current pension and health benefits are governed by a collective bargaining agreement between the state and the State Employee Bargaining Agent Coalition (SEBAC) which is in effect until 2022. New employees hired after July 1, 2011 are governed by the current pension and health agreement. The amendment requires the Comptroller to allow employees hired before June 30, 2013 to participate in the defined contribution plan and the health care savings account/high deductible health plan established by the amendment; this is not anticipated to result in a fiscal impact as it is unlikely eligible employees would elect to participate.
Under current law, when an agreement is in conflict with statute, the provisions of the agreement supersede statute (CGS Sec. 5-278(e)). The provisions of the current agreement are in place until a subsequent agreement is negotiated.
The fiscal impact in 2022 of a defined contribution plan and a health care savings account/high deductible plan will depend on various factors, including but not limited to: 1) the salary of participating employees, 2) state's contribution rate, 3) the state's share of the new health care arrangement.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.