State Employees Bargaining Agent Coalition Savings, Fiscal Years 2018 & 2019 (Office of the State Comptroller)
Dec 10, 2019
In 2017, the State Employees Bargaining Agent Coalition (SEBAC) and the State of Connecticut reached a concessions deal — meaning roughly 46,000 current unionized state employees would see certain changes to their benefits in order to reduce the State’s projected costs and obligations. Under the agreement, changes were made to employee pension and health care benefits and agreements on employee compensation. This report is a breakdown of the actual savings associated with the 2017 SEBAC agreement.
Prior to the adoption of the concession deal, the State projected a savings of $700.9 million in fiscal year 2018 and $868.6 million in FY 2019, for a total of $1.57 billion over the biennium. This report reveals programs and initiatives established pursuant to the 2017 SEBAC agreement have collectively resulted in a net savings of $1.7 billion over FYs 2018 and 2019 — exceeding the total initial projected savings by approximately $128.8 million.
State of Connecticut, Office of the State Comptroller. (2019). State Employees Bargaining Agent Coalition Savings, Fiscal Years 2018 & 2019. Hartford, CT: Author. Retrieved from https://www.osc.ct.gov/reports/sebacsavings/SEBACSavingsReport2019.pdf.