State comptroller says Connecticut saved $1.7 billion through SEBAC negotiations in past two fiscal years
HARTFORD — State Comptroller Kevin Lembo said Connecticut has saved $1.7 billion over the past two fiscal years through negotiations with the State Employees Bargaining Agent Coalition.
Lembo issued the state’s first annual SEBAC Savings Analysis Report, detailing how the state has achieved the savings as a result of programs collaboratively established through the 2017 SEBAC agreement.
Lembo said in a statement, “The 2017 SEBAC agreement included wage concessions, changes to employee and retiree health care benefits and adjustments to pension calculations. These adjustments, combined, were projected to save the state $700.9 million in Fiscal Year 2018 and $868.6 million in Fiscal Year 2019.
The statement went on to say, “Actual net savings exceeded these targets by approximately $128 million so far, according to Lembo’s analysis.
“Good ideas are easy to come by – but implementing complex policies, finding common ground and working collaboratively, sometimes against headwinds of doubt and resistance, is hard work,” Lembo said. “This analysis reveals that doing the hard work, in an ongoing collaborative process with state labor and management representatives, is paying off – and will continue to do so in years to come.”
This report is the first of what will be an annually updated analysis, as required by law.