The Appropriations Committee released its state funding recommendations Tuesday, which showed a $544 million dollar growth in fringe benefit costs for Connecticut state employees between 2019 and 2021. The Appropriations Committee budget recommendations largely fell […]
SERS
Connecticut ranked 49th in the country in a new analysis of state fiscal health by Truth in Accounting, due to its massive taxpayer burden of $53,400 per person and, once again, earned the organization’s label of a “sinkhole state.”
If nothing had changed, Connecticut would not be trapped in the situation it is now. But Connecticut also allows collective bargaining agreements to supersede state law, allowing subsequent SEBAC agreements to once again underfund state employee pensions.
Fringe benefit rates for Connecticut’s state employee and teacher retirement plans in 2018 jumped as much as 52 percent, according to figures from the Comptroller’s Office.
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.
