OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CREATING THE CONNECTICUT RETIREMENT SECURITY PROGRAM.
LCO No.: 5689
File Copy No.: 747
House Calendar No.: 227
Senate Calendar No.: 522
OFA Fiscal Note
State Impact: See Below
Municipal Impact: None
The amendment requires that after June 30, 2022, when the current pension agreement expires, the state and the State Employees' Bargaining Agency Coalition (SEBAC) collective bargaining negotiations no longer include matters related to state employee retirement benefits or the state employee retirement system. Pension benefits will thereafter be established statutorily.
The amendment retains matters relating to state employee health as an issue of collective bargaining. The state and the State SEBAC established retirement benefits as a matter of collective bargaining in the original SEBAC agreement (referred to as SEBAC I and the Pension Agreement of 1989). Pursuant to CGS 5-278 (e) when statute and a collective bargaining agreement are in conflict, the provisions of the contract supersede statute. Therefore this amendment has no impact on retirement benefits as a matter of collective bargaining unless a contractual change is agreed to between the state and SEBAC.
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.