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2011OFA-0915

2011OFA-0915

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Published by Helen Bennett

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Published by: Helen Bennett on Aug 09, 2011
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01/17/2014

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Connecticut General Assembly
OFFICE OF FISCAL ANALYSIS
PHONE: (860) 240-0200FAX: (860) 240-0052E-MAIL:
ofa@cga.ct.gov
 
LEGISLATIVE OFFICE BUILDINGRoom 5200Hartford, CT 06106-1591
2011OFA-0915August 9, 2011 TO:Rep. Lawrence CaferoFROM:Alan Calandro, DirectorSUBJECT:Updated Savings Analysis of SEBAC Agreement You asked for an updated analysis of the savings estimatescontained in the second SEBAC agreement. We had provided ananalysis on June 6, 2011 to you of the first SEBAC agreement.Please see the attached spreadsheet for an itemized analysis of each provision in the agreement currently before union members.Note that in certain areas we are still pursuing additional information,clarification or data from other sources. Therefore the table representsour best available information and assumptions at this time. Giventhat the revised SEBAC agreement is still based on annualized savingsfigures, in certain instances, these savings may be reduced due to thedelay in potential ratification. Finally, it is our understanding that theagreement’s savings figures were estimated individually duringnegotiations. In keeping with this approach, our analysis determinedachievability of these savings on an individual basis. Therefore it ispossible that savings for interrelated provisions may not becumulative.Please note that OFA does not employ any actuarial staff and doesnot have the ability to conduct actuarial analyses. Our analysis isbased on a review of the information available to us as it relates to thisagreement and as information has been presented related to otherconcepts.I hope you find this information useful. We are also in the process of finalizing a formal memo on the SEBAC agreement which will elaborate

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