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June 7, 2013 (All Day)
P3B
State Employees: Prohibited Practice Agreement on the Pre-Age 55 Resolution
Below you will find a stipulated agreement and question and answer leaflet regarding settlement of a prohibited practice charge filed by SEBAC regarding an issue that arose in August 2011. The issue was that some state employees were allowed to retire with 25 or more years of service, but they had not yet reached the age of 55.
- Click Here for the Prohibited Practice Agreement on the Pre-Age 55 Resolution
- Q&A on the Pre-Age 55 Resolution
Some basic facts:
- The class of members are those in State Employees Retirement System only.
- The member must have had 25 years of service as of September 1, 2011.
- The member must have not reached the age of 55 as of September 1, 2011.
- The member must have not retired since September 1, 2011 through an effective date of December 1, 2012.
- Members in a hazardous duty retirement classification will not be eligible because they can retire with 20 years of hazardous duty service.
- The agreement has strict timeframes.
- Some members may have aged into normal retirement, Tier 1 at 55, so that there will no actuarial reduction.
- Finally, this is not an early retirement incentive program, but a settlement of a prohibited practice charge. There is no early retirement incentive program.
How to Report HEP Chronic Care Bonus Non-Payment
For those active state employees who thought they should have received a HEP Chronic Care Bonus, the Comptroller’s Office has set up process for members to report non-payment.
Employees should email osc.cthep@po.state.ct.us or call 860-702-3560 (this is a voice mail box for HEP issues). They should email or leave in the voice mailbox their name, employee ID number, phone number and indicate that they did not receive a HEP payment.
Attachment F – Actuarial Cost of Maintaining Current Normal Retirement Age Beyond June 30, 2022
The Revised 2011 SEBAC Agreement provided for current employees who retired after July 1, 2022:
Normal Retirement eligibility increases from Age 60 and 25 years of Benefit Service or Age 62 and 10 years of Benefit Service to Age 63 Wage and 25 Years of Benefit Service or Age 65 and 10 years of Benefit Service. This change affects all years of service earned on or after July 1, 2011. By July 1, 2013, current employees may make a one-time irrevocable election to begin paying the actuarial cost of maintaining the normal retirement eligibility that exist in the present plan which is scheduled to change on July 1, 2022. The cost shall be established by the Plan’s actuaries and shall be communicated to employees by the Retirement Division. Such election shall be made on a form acceptable to the Retirement Commission and shall indicate the employee’s election to participate or not to participate. In the event the employee fails to make an election, he/she shall not be eligible to participate. Click Here for the calculator to determine the cost of such service.