Incentives Popular for Potential State Retirees

Thousands of state employees have already retired or will do so by July 1, exceeding the goal of the Retirement Incentive Program Gov. M. Jodi Rell previously negotiated with state employee unions. Rell said the total number is 3,460.

Originally, state officials estimated that 3,000 state employees would sign up for the program, yielding a total of $700 million in state savings.

This is good news for Connecticut.

With two weeks still remaining before the July 1 deadline, the number of state employees leaving their jobs, along with the savings of the state, are likely to continue to increase.

“The state employees who are retiring are helping us to resolve the enormous financial issues facing Connecticut. The fact that we will achieve an even greater cost savings than anticipated is good news for our state and its taxpayers,” said Rell.

This agreement plans to cut costs for Connecticut taxpayers and includes better health care and pension benefits.

Among Rell’s top advisers who want in on the offer include Communications Director Christopher Cooper, Department of Correction Commissioner Theresa Lantz and Department of Revenue Services Commissioner Pamela Law.

To be eligible you must be at least 55 years-old and have at least 10 years of state service.

If this eligibility is met, retirees will receive $6,000 in 3 annual installments of $2,000 each. Eligible employees can still apply for the program between now and June 30.

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