Malloy signs tentative contract with state employee unions
Malloy’s office said that this action will help create significant, long-term structural reforms to pension and benefit costs, generating billions in savings for taxpayers for many years to come.
Malloy issued the following statement:
“The agreement by the unions to move forward with a tentative contract that could save the state more than $24 billion is a promising step, clearly demonstrating that they want to be part of the solution to putting the state in a better and more stable financial position. From the moment we began our earliest discussions, SEBAC leaders have proven to be willing partners; engaging with their own tangible offers and accepting the fact that the state’s financial reality will affect their members. Connecticut’s state budget needs serious people willing to make serious change, and thus far, SEBAC has answered the call. There are still several steps remaining, but it is truly a credit to our partners that the rhetoric surrounding the deal did not stifle their willingness to help. I also want to recognize the hard work and dedication of Secretary Ben Barnes, Lisa Egan, and the other members of the state’s Office of Labor Relations for working with SEBAC leadership to negotiate this historic deal.”
Earlier this month, an actuarial analysis confirmed that the proposed structural reforms will produce over $24 billion in savings.