Fringe benefit costs for Connecticut state employees can range anywhere from 56 percent of payroll to 86 percent for judges, family magistrates and compensation commissioners, according to a memorandum from state comptroller Kevin Lembo.
Marc E. Fitch
Everyone knows that living in Connecticut is expensive, but how far will $100 get you in the Nutmeg State? A state-by-state study conducted by the Tax Foundation purports to answer that very question. Using the 2014 price index from the U.S. Bureau of Economic Analysis, the Tax Foundation found that in Connecticut $100 only translates to $91.91 in actual purchasing power.
Connecticut spent more money than it took in for 10 out of 13 years, according to a long-term state analysis by Pew Charitable Trusts. Overall, Connecticut was one of only eleven states that were consistently in the red because they “carried forward deferred costs of past services, including debt and unfunded public employee retirement liabilities, which could constrain their future fiscal options,” the report said.
Flanked by community leaders, politicians and organizations across the political spectrum, Governor Dannel Malloy signed legislation to reform Connecticut’s criminal justice system on Wednesday at Faith Congregational Church in Hartford.
One of the major selling points of the union concessions agreement negotiated between Gov. Dannel Malloy and state union leaders is a new Tier IV hybrid retirement plan, which combines a 401(k) style retirement account with a pension. Proponents claim that this move will save the state money and help stabilize the state employee retirement system, but questions remain as to how the retirement payout would be calculated between the two different plans.
In a cautiously worded opinion issued Thursday, Attorney General George Jepsen said the state legislature does have the ability to change existing labor contracts but would need “substantial justification.”