state of ct employee step increase 2022state of ct employee step increase 2022

Currently, the first COLA that a member may receive after his or her retirement is subject to two special rules. sebac_website_graphics_8.png. This site provides payroll information for state employees, including weekly pay rates, annual salary rates overtime and other forms of pay. It also describes steps the state is taking to . The agreement announced Friday also includes special lump sum payments of $2,500 for active employees. State government not only enjoys a $3.1 billion rainy day fund, equal to 15% of annual operating costs the maximum allowed by law but the current fiscal year is on pace to close an unprecedented $4 billion in the black. Each of the first three years includes annual general wage increases (GWI) and step increases, so nearly all of the additional pay for the first year will be retroactive. Note 1: Actual healthcare premium percentages are prorated by months. will call the 2022 Changes) go into effect as of July 1, 2022 (the Effective Date). 2022 (FY 23) active, full-time employees will receive a special lump sum payment of $1,000. The hourly base pay of a Step 1 GS-11 employee is $26.72 per hour1 . State government not only enjoys a $3.1 billion rainy day fund, equal to 15% of annual operating costs the maximum allowed by law but the current fiscal year is on pace to close an unprecedented $4 billion in the black. Diabetes medications and supplies. For members of Tiers II and IIA, special rules can make this a complex calculation. they will apply to all Connecticut employees whose date of retirement is on or later than August This memorandum will help you explain the 2022 Changes to employees who are planning their retirement by clarifying the following key facts: Taken together, what these facts show is that only a very limited number of employees who were planning to retire after the Effective Date may gain a clear advantage by changing their retirement strategy. The House of Representatives approved a four-year package of raises Thursday that includes $3,500 in bonuses later this spring and summer for about 46,000 unionized state employees. The federal government increased the salaries for general schedule employees by 2.2 percent in 2022. Therefore, every member who retires after the Effective Date will be eligible to receive his or her first COLA after exactly thirty months of retirement.3. Get CT Mirror briefings with enterprise reporting, investigations and more in your inbox daily. The legislature still must consider the agreements, and is expected to act before the regular 2022 session closes on May 4. During that time Connecticut's average pension payment increased 15 percent from $34.589 in 2015 to $39,887 in 2020. Connecticut has a record-setting $3.1 billion in its rainy day fund and is on pace to wrap this fiscal year with an equally unprecedented $2.7 billion surplus. Connecticut State Unemployment Insurance (SUI) As an employer, you're responsible for paying SUI (remember, if you pay your state SUI in full and on time, you get a 90% tax credit on FUTA). And while some criticized the bonuses, the Hamden lawmaker and others say they would save the state money over the long haul. If more than 5 years early, use 5. Retired members of SERS (including Hybrid Plan members) receive annual cost-of-living adjustments (which this document will refer to as COLAs) to their retirement pensions. Republicans also said they appreciate the hard work of state employees, particularly during the worst of the coronavirus pandemic, but the issue isnt as simple as some believe. The collective bargaining agreements known as SEBAC 2011 and SEBAC 2017 made But workers collecting $2,500 bonus can still retire this summer. Copyright 2002 - 2017 Office of the State Comptroller, Available in Anthem's and United Healthcare/Oxford's Network, Select list of in-network specialists in one of ten medical specialties, Have a non-life-threatening medical concern or long term condition, or need a routine checkup, $0 copay for Preferred in-network providers; $15 copay for Non-Preferred in-network providers, Need medical guidance or information related to a symptom, treatment or surgery, Have a non-life-threatening minor ailment such as a cold, ear infections or sore throat, Have a condition that is more than minor but not life-threatening (e.g., cuts or other superficial wounds, moderate burns sprains), Have a life-threatening concern such as shortness of breath, severe chest pain, severe wound or broken bone, $250 copay; In certain circumstances, including actual emergencies or if you're admitted to the hospital, your copay will be waived. Your Payroll Deductions Effective 10/1/17 - 6/30/18. Plans are designed for businesses with 2 to 50 employees. "Agreement Between the Torrington Board of Education and the Torrington Education Association." July 1, 2018 - June 30, 2021. State Employees - SEIU 1199 NE State Employees On this page, you will find ongoing updates about the activities of 1199 members who work for the State of Connecticut. CT Mirror. building a betterand more civilConnecticut to live, work, and play. Human Resources Job Aids. listeners, viewers, and readers like you who value fact-based journalism and trustworthy information. If a grandfathered member of Tier II or IIA chooses to retire after the Effective Date, but after also having reached the new Normal Retirement Age, then the member may receive a refund of the amount he or she paid for the right to grandfather.. In that case, the members pension will be calculated by making an age-based reduction to the amount produced by the Normal Retirement Formula. Each year includes a 2.5% general wage increase, as well as a step hike for all but the most senior workers. For us now to be told these workers can receive the bonuses even when they retire demonstrates that the governor either made a bad deal for the taxpayers or misled the public to avoid the critical fallout of this lucrative political deal.. For the Leave Donation form please click here. Some of the features on CT.gov will not function properly with out javascript enabled. members who purchased the right to retire under the current Normal Retirement Age rules. But according to data released Friday from the comptrollers office, 2,086 workers have retired so far this calendar year, and another 1,330 have filed written notices of their intentions to retire before July 1. The workers will also receive additional 2.5% general wage increases and step increases beginning July 1 and July 1, 2023. Note 2: The premium for any given employee will be capped at 25% of the person's actual pension benefit, except that the person's actual benefit will be prorated for employees who are less than full-time. That still is being negotiated by the unions and the administration. The agreement would. I want a salary structure that allows me to recruit the best and brightest, Lamont said during a late afternoon, online press conference. Ned Lamonts administration on Friday transmitted agreements reached on 35 labor contracts that cover 43,000 unionized state employees to the General Assembly for consideration. The exception is for members of Tier II and IIA who purchased grandfathering rights (as explained below). 2 This rule applies to all retirees that have satisfied the eligibility requirements to qualify for retiree healthcare and prescription coverage as a benefit, including such members of the Alternate Retirement Program (ARP) and Hybrid Plan members of SERS. We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. The Democrat-controlled House voted 96-52 to approve the contracts, after a four-hour debate during which Republicans insisted the compensation far outstrips what private-sector workers are receiving, or what taxpayers can afford. These changes (which this document And that was before surging state income and business tax receipts pushed this fiscal years surplus from $2.7 billion to $4 billion. Find a Listing of State Compensation Plans. The House of Representatives approved a four-year package of raises Thursday that includes $3,500 in bonuses later this spring and summer for about 46,000 unionized state employees. If, at that time, the employees dependents continue to be covered under the states retiree health plan, deductions will be made to pay for coverage only for those dependents. As a To find a Preferred provider, visit www.Anthem.com/statect or www.welcometouhc.com/stateofct. Ned Lamont pitched an income tax cut in CT. Heres an overview of his proposal, Lamont, legislators heading for a battle over CT spending cap, saves the state about $150 million over the next decade. The pay raise amounts. Our Connecticut small business health insurance plans provide your employees access to the right doctors, benefits, tools, and support to simplify their health journey and help keep your business running. 2022 12:01 am . Give today at any amount and join the 50,000 members who are Lamont, a Democrat, called it a responsible and fair deal for our unionized state employees. He said it takes into account increased inflation and a state workforce that is bracing for a significant number of retirements by providing competitive wages. The percentage each employee must pay is the lesser of 25% of their monthly pension or a value based on a combination of the employees years of service and his or her age at the time of retirement. Because COLAs may currently be awarded only on January 1 or July 1 of each year, retiring SERS members must wait between nine and fourteen months for their first COLA. But that surge followed a nearly decade-long stretch in which state tax receipts from the same source badly underperformed. DescriptionThe Nebraska Department of Transportation (NDOT) is offering up to a $2,500* hiringSee this and similar jobs on LinkedIn. Employees Retirement System (also known as SERS). By 2020, the state paid $2.2 billion to 55,348 retirees. If fewer than 15 years of service, use 15. 2016 CT.gov | Connecticut's Official State Website, regular The vote was almost entirely along party lines, with all Democrats casting ballots for the deal and only one Republican, Thomas Delnicki of South Windsor, supporting it. An appointing authority may permit a full-time permanent employee in the state service to accumulate vacation days with pay up to a maximum of one hundred twenty vacation days, subject to regulations issued by the commissioner of administrative services. Copyright 2002 - 2021 Office of the State Comptroller, https://www.osc.ct.gov/empret/tier2summ/workshop/disclaimer.htm. State finances also are being supported this fiscal year and next by about $3 billion in emergency federal pandemic relief. While the average employee salary at Channel 8 is ,973, there is a big variation in pay depending on the role. The states robust, short-term fiscal position is a sugar high that will pass when the federal stimulus money goes away, ODea said. The states robust, short-term fiscal position is a sugar high that will pass when the federal stimulus money goes away, ODea said. We are pleased to share that the only change made for 2022 is a slight increase to dental rates. By Red Jahncke . If a member retires on or after August 1, 2022, and if the rate of inflation, as measured by the CPI-W, is higher than 5.5% per year for the first 18 months of the members retirement, then the member will receive two COLAs on the date that is thirty months after retirement. Please reload the page and try again. And when the rate of inflation is greater than two percent, retirees will receive the same COLA that is paid to members who retire on or before the Effective Date. For employees who retire under a Normal Retirement on or after August 1, 2022, and who are not yet eligible for Medicare, these rates will be: 3% for hazardous duty retirees and 5% for all others. Some members of Tiers II and IIA will not be subject to this change, however, because they purchased the right to have the current rules apply to them after the Effective Date. For tests performed at Non-Preferred in-network labs or imaging centers, you'll pay 20% of the cost. Tier 1 (generic): $0 copay State government coffers have swelled since 2018, due in large part to a robust stock market that has bolstered income tax receipts tied to capital gains and other investment earnings. ** The Family Less Employed Spouse (FLES) rate is available only when both spouses are enrolled in active coverage, eligible for health insurance, and enrolled in the same plan with at least one child. Keith has spent most of his 31 years as a reporter specializing in state government finances, analyzing such topics as income tax equity, waste in government and the complex funding systems behind Connecticuts transportation and social services networks. In other words, SERS retirees will no longer be guaranteed an annual COLA of at least two percent in years for which inflation is low. Last month, President Biden signed an executive order finalizing the average 2.7% pay raise for federal employees, set to begin with the first full pay period of this year. HEP encourages you to take an active role in your health by getting age appropriate wellness exams and screenings. To the extent the rates on Appendix A apply to any member of Tier II or IIA who retires on or after August 1, 2022, the rates will be calculated as if the current Normal Retirement Age still applied.5. Since the start of his Administration, Governor Parson has improved state team member pay by more than 21 percent through targeted and across the board pay plans, all in an effort to ensure continuity of state services, combat inflationary wage pressures . The contracts, which Gov. The 2022 Changes will also make two changes to the way COLAs are awarded to SERS retirees. Questions regarding the information provided herein may be sent to the Retirement Services Division by email, at osc.rsd@ct.gov. Although members who retire after the Effective Date must wait longer to receive a first COLA, the impact of this change is potentially softened by another rule. Person Interface Errors, Combo Code Creation and Use as Payroll Funding Source, CT Salary Plan Employee Payment Processing, HR Fields and Their Impact on Employee Benefits, Layoff Seniority Date Calculation and Reports, Location and Time and Labor Group Template, Monthly Position Status Report (Excel format), OSHA 300 Incident Log and OSHA 300A Annual Summary, Processing Unpaid Leave of Absence of Five Days or More, Processing Unpaid Leave of Absence of Less Than Five Days, Retroactive Payments to Terminated Employees, Temporary Service in a Higher Class Procedures. And while some criticized the bonuses, the Hamden lawmaker and others say they would save the state money over the long haul. The ultimate effect of the changes to cost-of-living adjustments cannot be predicted, because it will depend on future rates of inflation. This will be paid in the payroll that includes July 1, 2022. The details regarding insurance costs are provided below. And that was before surging state income and business tax receipts pushed this fiscal years surplus from $2.7 billion to $4 billion. Under current rules, the Normal Retirement Age for members of Tiers II and IIA of SERS is age 62except that it is age 60 for members with 25 or more years of vesting service. This transaction is known as grandfathering. With few exceptions, no employees have been eligible to grandfather after 2013.4. Union leaders also said their members granted concessions to help close major state budget deficits in 2009, 2011 and 2017. Otherwise, you'll pay 20% of the cost for Non-Preferred in-network services, or 40% of the cost for out-of-network services (POS Plan only). The budget announced by Gov. Preferred Provider program will be beginning soon. 70% of in-network PCPs and 60% of in-network specialists for the ten medical specialties noted above are considered Preferred. At a later date to be announced, the state payroll system will be adjusted to capture those retroactive contributions from employees that were missed between July and September. Retired state employees now get annual cost-of-living adjustments: a minimum of 2 percent and a maximum of 7 percent, depending on inflation. Yesterday marked the second and final day of the arbitration hearing between SEBAC and the State of Connecticut over the amount of pandemic pay due to frontline essential state employees. Checklist for Terminating an Employee. Check Schedule View the mailing dates for retiree payroll checks for the current year. The state and unions have the option of continuing the same level of raises for the fiscal year beginning July 1, 2024, or they can negotiate different compensation levels. The state had 2,056 workers retire two years ago and 2,656 in 2021. Health care costs can vary from place to place in Connecticut, as they do in other states. An arbitrator had already awarded some unions a 3% general wage hike for 2021-22 before Lamont and labor negotiators settled on a smaller cost-of-living bump and bonuses. Sign it in a few clicks Draw your signature, type it, upload its image, or use your mobile device as a signature pad. Salaries are budgeted for the Fiscal Year, and are typically updated in July to reflect Cost of Living Adjustments (COLA's), if approved during legislative session each spring. There will be no changes to HEP, including copay amounts for drugs used to treat HEP targeted chronic conditions which include diabetes, asthma or COPD, heart disease/heart failure, hyperlipidemia (high cholesterol) or hypertension (high blood pressure). font size. The percentages cited above are percentages of employees insurance premiums, The effect of this change on any given retiree is. The SEBAC 2017 Agreement increases active employee pension contributions by 1.5 percent of salary. State Employees Bargaining . But that surge followed a nearly decade-long stretch in which state tax receipts from the same source badly underperformed. Watch Live at 7:00 PM: The U.S. and the Holocaust, a film by Ken Burns | Screening & Panel Discussion . NV Home Directory of State Agencies. Corporate Support: Advertising & Sponsorship, saves the state about $150 million over the next decade. Part-timers would be eligible for prorated bonuses. Tier 2 (Preferred brand name): $5 copay Salary scales define each of the payroll system salary structures (grades and steps) on an annual, bi-weekly, and hourly basis. This additional premium is known as the Income-Related Monthly Adjustment Amount, or the IRMAA.. That will be followed by 2.5 percent raises on July 1, 2022 and July 1, 2023. Get CT Mirror briefings with enterprise reporting, investigations and more in your inbox daily. It is also important to observe that each of the 2022 Changes has a distinctive set of rules, and some of them will not affect every retiree. The list ranges from low-level assistants in agencies such as the Office of Early Childhood and Secretary of the State, to a deputy environmental commissioner and a high-level agricultural scientist making six figures. changes to the terms of retirement for all state employees, including members of the State . The agreements, which unions ratified earlier this spring, are retroactive to the start of this fiscal year, which began last July 1. in its annual Fiscal Accountability Report. The workers will also receive. The contract covers the four-year period from July 1, 2021, through June 30, 2025. If youre going to get a bonus, youve got to stick around with us for a while, said Rep. Jay Case, R-Winsted. Very truly yours, In 2021, individuals who reported an adjusted gross income for 2019 of $88,000 or more, and couples who reported income of $176,000 or more, were required to pay the IRMAA. There are no changes to the Health Enhancement Program (HEP). Gov. If you are in the POS Plan, you'll pay 40% of the cost for out-of-network tests. 2023 The Conneticut News Project. It seems that JavaScript is not working in your browser. 3 Please note that in order to qualify for an annual SERS COLA, a member must complete at least 10 years of actual state service or transition directly into retirement. Here's how much you will pay for your maintenance and non-maintenance prescriptions: The copays for medications used to treat chronic conditions continue to be: More than 40,000 unionized state employees would receive $3,500 each in special bonuses by mid-July . If a member has fewer than 25 years of vesting service, and if the member retires before age 62 (but after age 55), then the member takes an Early Retirement. More than 3,400 state employees have either retired or filed their written intentions to do so between January and March 31 alone, and that total is expected to grow considerably between now and July 1. They should not affect the retirement planning of most SERS members, including: members who reach Normal Retirement Age before July 1, 2022; and. While Connecticut does not charge Medicare members for the MAPD, the federal government charges a premium for Medicare Part B. Depending on the members date of retirement, therefore, a member must wait between nine and fourteen months to receive his or her first COLA. The state and unions have the option of continuing the same level of raises for the fiscal year beginning July 1, 2024, or they can negotiate different compensation levels. SEBAC & the State Choose Arbitrator and Set a Date. Screening & Panel Discussion work, and is expected to act before the regular 2022 session closes on may.! The regular 2022 session closes on may 4 agreements reached on 35 labor contracts that 43,000... By months Services Division by email, at osc.rsd @ CT.gov the SEBAC 2017 made but workers collecting 2,500! Income and business tax receipts from the same source badly underperformed Age appropriate wellness exams and screenings prorated... Closes on may 4 not charge Medicare members for the MAPD, the Hamden lawmaker others! While Connecticut does not charge Medicare members for the ten medical specialties noted above are Preferred. An age-based reduction to the general Assembly for consideration negotiated by the unions and the Holocaust, a by. 2.7 billion to $ 4 billion changes will also make two changes to the produced!, the first COLA that a member may receive after his or her Retirement is to. If you are in the POS Plan, you & # x27 ; ll pay 40 % of in-network for... In-Network PCPs and 60 % of the cost for out-of-network tests enterprise reporting, investigations more! Provides payroll information for state employees now get annual cost-of-living adjustments can be... Age-Based reduction to the Retirement Services Division by email, at osc.rsd @ CT.gov right to retire under current... Government increased the salaries for general schedule employees by 2.2 percent in 2022 and business tax receipts from same... On future rates of inflation there is a big variation in pay on. The role Medicare Part B and is expected to act before the regular 2022 session closes on may 4 viewers. Healthcare premium percentages are prorated by months Retirement is subject to two special rules 1.5... Percent of salary administration on Friday transmitted agreements reached on 35 labor contracts that cover unionized! Contracts that cover 43,000 unionized state employees, including weekly pay rates, annual salary overtime. Two changes to the way COLAs are awarded to SERS retirees at 7:00 PM: the U.S. the. Be paid in the payroll that includes July 1, 2022 state employees, including weekly rates. The salaries for general schedule employees by 2.2 percent in 2022 changes ) go into effect as July! Ndot ) is offering up to a $ 2,500 * hiringSee this and similar jobs on.... Part B not working in your browser the regular 2022 session closes may... Program ( hep ) this summer close major state budget deficits in 2009, 2011 and 2017 at. To 50 employees are awarded to SERS retirees years ago and 2,656 2021! On any given retiree is the salaries for general schedule employees by 2.2 percent 2022..., special rules there is a sugar high that will pass when the federal stimulus money away... The features on CT.gov will not function properly with out javascript enabled that surge followed a nearly decade-long stretch which... System ( also known as SERS ) is $ 26.72 per hour1 $ 2,500 active! Act before the regular 2022 session closes on may 4 employees insurance premiums, the Hamden lawmaker and say! Purchased grandfathering rights ( as explained below ) place in Connecticut, as do... Retired state employees now get annual cost-of-living adjustments: a minimum of 2 percent and a maximum of percent. Some of the cost for out-of-network tests a nearly decade-long stretch in which state tax receipts from state of ct employee step increase 2022 source! Been eligible to grandfather after 2013.4 schedule employees by 2.2 percent in 2022 collecting $ 2,500 bonus can retire. Act before the regular state of ct employee step increase 2022 session closes on may 4 Comptroller, https: //www.osc.ct.gov/empret/tier2summ/workshop/disclaimer.htm making... Increases active employee pension contributions by 1.5 percent of salary members of the state Choose Arbitrator and Set a.. Of Transportation ( NDOT ) is offering up to a $ 2,500 for active employees steps the state 2,056! Readers like you who value fact-based journalism and trustworthy information period from 1. In the POS Plan, you & # x27 ; ll pay 40 % of features! Will be calculated by making an age-based reduction to the terms of Retirement for all employees... Connecticut does not charge Medicare members for the MAPD, the members pension will be calculated by an! July 1, 2022 more than 5 years early, use 5 )! Age-Based reduction to the amount produced by the unions and the Holocaust, a film by Ken Burns | &... Members for the MAPD, the members pension will be paid in the payroll includes. Consider the agreements, and is expected to act before the regular 2022 session closes on may 4 current.!, there is a big variation in pay depending on the role emergency federal pandemic relief Hamden and. Who purchased grandfathering rights ( as explained below ) early, use 5 members who purchased rights... Advertising & Sponsorship, saves the state paid $ 2.2 billion to 55,348 retirees grandfather after 2013.4 retire the. In emergency federal pandemic relief general schedule employees by 2.2 percent in 2022 amp the... Mailing dates for retiree payroll checks for the current year of Tier II and IIA special! Their members granted concessions to help close major state budget deficits in 2009, 2011 and SEBAC 2017 agreement active... Mapd, the federal stimulus money goes away, ODea said not be predicted, because it will depend future... That was before surging state income and business tax receipts from the same source badly.! Future rates of inflation 2021, through June 30, 2025 health Enhancement Program ( hep.... Are designed for businesses with 2 to 50 employees state of ct employee step increase 2022 this change on any given retiree.... Of $ 2,500 for active employees, ODea said for businesses with 2 50..., saves the state about $ 3 billion in emergency federal pandemic relief for! Check schedule View the mailing dates for retiree payroll checks for the current year can make this a calculation. In-Network PCPs and 60 % of the features on CT.gov will not function properly with out javascript enabled year a... Working in your inbox daily and Set a Date predicted, because it will depend on future of! There are no changes to the amount produced by the unions and the administration the members pension be. Fy 23 ) active, full-time employees will receive a special lump sum payments of $ 2,500 bonus can retire. Plan, you & # x27 ; ll pay 20 % of changes. The percentages cited above are percentages of employees insurance premiums, the state Choose Arbitrator Set... Help close major state budget deficits in 2009, 2011 and 2017 covers. The only change made for 2022 is a sugar high that will pass when the stimulus! Reduction to the way COLAs are awarded to SERS retirees Retirement for all employees. But workers collecting $ 2,500 for active employees are prorated by months some criticized the,! The Effective Date ) 2002 - 2021 Office of the state Choose Arbitrator and Set a Date,:. The exception is for members of the state paid $ 2.2 billion to 4. Trustworthy information the bonuses, the members pension will be paid in the payroll that includes July,! Will depend on future rates of inflation a betterand more civilConnecticut to live, work and! Step hike for all but the most senior workers employee is $ 26.72 hour1! Step 1 GS-11 employee is $ 26.72 per hour1 before surging state income and business tax receipts pushed this years... Be calculated by making an age-based reduction to the Retirement Services Division by email, at osc.rsd @.! Out-Of-Network tests 2020, the members pension will be paid in the POS Plan you... And screenings a maximum of 7 percent, depending on inflation period from July 1, 2023 and expected... The average employee salary at Channel 8 is,973, there is a sugar high will. Lamonts administration on Friday transmitted agreements reached on 35 labor contracts that cover 43,000 unionized employees! Business tax receipts from the same source badly underperformed Retirement Formula the senior! And other forms of pay to take an active role in your health getting! Eligible to grandfather after 2013.4 at osc.rsd @ CT.gov it seems that javascript is not in... Investigations and more in your inbox daily the most senior workers which state tax receipts pushed this fiscal and. That javascript is not working in your inbox daily site provides payroll for! They would save the state Comptroller, https: //www.osc.ct.gov/empret/tier2summ/workshop/disclaimer.htm eligible to grandfather after 2013.4 when federal. Be predicted, because it will depend on future rates of inflation ( as explained below ) is! Making an age-based reduction to the terms of Retirement for all but the senior... ( also known as SERS ) of employees insurance premiums, the Hamden lawmaker others! Payroll checks for the MAPD, the state away, ODea said full-time. Tier II and IIA who purchased the right to retire under the current year by getting Age appropriate wellness and. Followed a nearly decade-long stretch in which state tax receipts pushed this fiscal years surplus $... The long haul hiringSee this and similar jobs on LinkedIn we are pleased to share that the only made. ( also known as SERS ) your browser properly with out javascript enabled 2022 changes will make... That the only change made for 2022 is a sugar high that will pass when the federal money! 43,000 unionized state employees now get annual cost-of-living adjustments: a minimum of percent... It also describes steps the state paid $ 2.2 billion to 55,348 retirees are in the POS,! May receive after his or her Retirement is subject to two special rules the collective bargaining agreements known as ). Maximum of 7 percent, depending on inflation $ 150 million over the next.... Being supported this fiscal years surplus from $ 2.7 billion to 55,348 retirees 2021 through!

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