Update Your Business’ Online Identity

Can your business be found on Google? Is all the information correct? Are you using your social network followers to the best of your ability?

If any of these are no, or you aren't sure, read this article.

2017 Sebac Agreement

2017 Sebac Agreement

Lawmakers voted on March 27 in favor of a collective agreement for Connecticut`s assistant attorneys general, which included an 11 percent pay increase and bonuses, and on April 1, the Appropriations Committee approved a similar contract with state tax lawyers. The first agreement between the Malloy administration and SEBAC distributed government payments to SERS by transferring at least $13.8 billion in annual contributions in the coming years. By changing the calculation of funding and the timing of its unfunded commitments related to SERS over time, the agreement allowed Connecticut to reduce its projected annual contributions over the next 15 years and avoid a potential contribution of $4.48 billion to SERS in fiscal 2032. The National Police Union has refused to reopen its wage contract as part of the 2017 concession contract, meaning state forces have maintained their 9 percent pay increase outlined in their contract between 2015 and 2018. According to the AT NINO, the soldiers accepted the pension and health changes described in the SEBAC. Click here for a copy of the Official Bargaining Agency (SEBAC) agreement, which runs from July 1, 2017 to June 30, 2027. The Correctional Guardian Council signed the 2017 SEBAC contract to guarantee bonuses, salary increases, level increases and protection against layoffs, but the contract also included a 3 percent increase for probation and community service managers retroactively in 2015. This article has been updated with details and a link to the arbitration agreement and cost analysis of the ATIA. H.R. 8, Jan. 2017, General Assembly. (Ct. 2017).

www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&which_year=2017&bill_num=hr+8 The State Police will not be guaranteed the same increases as described in SEBAC because they did not accept the wage changes, but there is still a backlog of employment contracts that will increase the costs to the state as it faces budgetary challenges. Under the SEBAC agreement, the state must provide the same wage increases and job security for any other bargaining unit that “aims to protect the job security of the 2017 SEBAC agreement,” regardless of whether or not the bargaining unit falls under the Connecticuts Office of Labor Relations. Any SEBAC chord can be downloaded to the right button. According to an actuarial analysis, the government is expected to save $US 1.57 billion over the next two fiscal years (US$701 million for fiscal year 2018 and $869 million for fiscal year 2019), $4.8 billion in the first five years of the agreement and more than $24 billion over the next 20 years. In addition, the government`s projected annual contributions to SERS under the concession contract would decrease by an average of $383.8 million, 17.7%, and would peak at approximately $2.22 billion in fiscal 2024 ($328 million less than the government`s projected maximum contribution under the February 2017 SEBAC agreement). Prior to the SEBAC agreement, approved by the General Assembly in February 2017, the government`s projected annual contributions to SERS would have increased dramatically – with a peak in 2032 – before falling to a level of only $438 million in fiscal 2034. However, under the agreement, the government`s contribution to SERS would increase more slowly before stabilizing with a projected annual contribution of approximately $2.5 billion between fiscal year 2023 and fiscal 2032. After peaking in 2032 at $2.55 billion, the government`s projected annual contribution would fall to about $2 billion by fiscal year 2047 and remain close to that level. Increase in workers` contributionsIn addition to wage concessions, the July 2017 SEBAC agreement increases workers` pension contributions by 2% (1.5% for fiscal year 2018 and 0.5% for fiscal year 2020).

No Comments

Sorry, the comment form is closed at this time.