COVID19 Guidance
This is the link to current Coronavirus directives from the Governor
Office of Fiscal Analysis Projects $4.3 Billion in Deficits Over Next Four Years
The legislature’s nonpartisan fiscal analysts projected the state will face $4.3 billion in budget deficits over the next four years. The Office of Fiscal Analysis estimates that the state is facing a $254.4 million budget deficit in 2016 and a $552 million deficit in 2017, but the deficit grows even further to $1.7 billion in 2018 and $1.8 billion in 2019. The OFA's deficit projections are similar to those of OPM. Read the entire story at CT News Junkie
Democratic Legislators Release Budget Proposal
The leaders of the legislature's Democratic majority recommended suspending the state's public-financing of elections for 2016, cutting social services, and retreating from two major initiatives on transportation and municipal aid. The suggested cuts are part of continuing negotiations with Governor Malloy and the Republican legislative minority over how to eliminate growing deficits projected for this fiscal year and the one that begins July 1.
Comptroller, Treasurer Developing Alternative State Pension Fixes
State Comptroller Kevin Lembo announced today he is developing an alternative plan to restructure Connecticut’s payments into the cash-starved pension fund for state employees. Unlike the plan Governor Malloy offered last month in which Tier 1 pension costs would be separated from the pension fund and paid for as a pay-as-you-go budget line item, Lembo's proposal would not split the pension system into two components (Tier 1 and all others).
Republican Legislators Propose Labor Concessions
Republican Legislators suggest the following concessions be pursued in upcoming contract negotiations:
Repubican Budget Proposal Would Offer Early Retirement to State Workers
Republican legislators laid out a vision for closing a $350 million budget gap that includes an early retirement incentive for state workers. The proposal contemplates that 1,600 state employees would accept the offer.
Governor Seeks Changes in Tier 1 Pension Funding & to Reduce State Workforce by 500 Employees via Attrition
Governor Malloy announced last week a sweeping plan to overhaul the state's pension system as well as the desire to reduce the state workforce by 500 employees via attrition.