UConn-AAUP Update: July 27, 2023
In this Issue:
- Tier IV Pensions: SEBAC to Meet with Lamont Administration
- Pandemic Pay Update
- SEBAC Health Enhancement Plan Bonus
State employees, including UConn-AAUP members, who were first hired on or after July 31, 2017, were eligible to participate in the Tier IV pension plan. In the coming weeks, SEBAC leaders will be meeting with the Lamont Administration to discuss issues with the Tier IV Plan, including employee contribution rates. Changes in the existing SEBAC Agreement cannot be unilaterally made by either party.
The risk-sharing provision of the Tier IV pension plan – which covers most state employees hired after 7/31/2017 – is about to take effect for one year, beginning with the upcoming pay cycle. That provision permits the State to increase employee contributions by half of the amount by which the plan’s investment returns failed to reach the projected average amount of 6.9% in the prior calendar year, up to a maximum of 2%.
Tier IV employees recently received a memo from the Comptroller’s office stating that “in calendar year 2022, the SERS fund’s investment income was far below the 6.9% annual benchmark. In fact, the fund’s investments suffered a net loss of 10.85%….” As a result, Tier IV employees are scheduled to pay an extra 2% contribution for the next 12 months.
We will keep members informed and involved as we work to make progress on these issues.
Pandemic Pay Update
UConn-AAUP continues to work with the administration on resolving the pandemic pay issues and getting those who qualify some compensation for the time spent at their worksite. As bargaining unit members do not record their time on CoreCT, or other time reporting software, members will be asked to attest to their time, and if necessary, receive confirmation from their supervisor. Many state employees have already received their compensation because they are required to record their weekly activity on CoreCT. Most higher education unit employees have not been compensated and continue to work their labor relations counterparts to resolve their issues. We will keep you posted on our progress.
SEBAC Health Enhancement Plan (HEP) Bonus
The $100 HEP incentive bonus for compliance with the Chronic Disease annual requirements will be included in the September 8, 2023 check for active employees and August 31, 2023 check for retirees.
Jeffrey O. G. Ogbar, President
Jean McCarthy, Executive Vice President
Michael Bailey, Executive Director
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