SEBAC & State Reach Agreement to Improve Pension Funding Mechanism

No Change to Employee Healthcare, Retirement or other Benefits or Contributions

Union leaders and the Governor have arrived at a plan that DOES NOT impact retirement benefits or employee contributions.  This is a pension funding change which will ensure that future pension obligations can be met and the pension system remains stable.  This plan will still need approval from the legislature.

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"Rowland Lawsuit" & All Other PL Time Expires

PL TIME - USE IT OR LOSE IT

PL time expires at the end of the year.  This applies to all PL time, including time awarded as part of the "Rowland Lawsuit".  If you received PL time as part of the settlement, be aware that this time will expire at the end of the year. 

"Rowland Lawsuit" PL time expires 12/31/16 as does all other PL time

This does NOT apply to any vacation time awarded as a result of the lawsuit.   Vacation time awarded will be:

"in the form of permanent SEBAC vacation time.  Your award will be converted to such permanent vacation time at your current rate of pay and will appear on CORE by a special SEBAC vacation designation.  Permanent SEBAC vacation days can be carried over without limit until you leave state employment and can be used at any time or can be saved until you leave employment.  The value of those vacation days will increase as your pay rate increases.  You will be paid for those vacation days at your then-current rate of pay when you use them (or redeem them upon leaving state service)."

posted 12/8/16

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