Early Retirement an Option in Budget Crisis?
The Associated Press late Monday afternoon reported that the legislature’s budget office agreed with Gov. M. Jodi Rell that the state faces a major budget crisis over the next two fiscal years. The 2010 fiscal year, beginning July 1, will be more than $2 billion in the hole. And the 2011 fiscal year will be in the red by more than $3 billion. They are similar numbers to what Rell’s analysts predicted, the Associated Press reported. Rell favors state spending cuts over tax increases, AP reported. The governor said she wanted to avoid the layoff of state employees, though it’s possible an early retirement offer could be considered, the AP reported. House Republicans have been vocal in their call for an early retirement program and they, too, have called for spending cuts rather than tax increases in these tough economic times.
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6 Responses to “Early Retirement an Option in Budget Crisis?”
the early retirement program offer is a great idea. we pay so much tax in CT.
we need spending cuts not tax increases!
Comment made on November 18th, 2008 at 12:51 pmWhat are the Democrats ideas to cut the budget or are they going just to blled us dry with taxes.
Comment made on November 18th, 2008 at 3:36 pmhow does an early retirement work, we have the senior state employees retire and collect a pension from the state and then we hire people to replace those retired. so we pay two people to do the same job. republicans put this out?what is a republican? I am confused.
Comment made on December 2nd, 2008 at 6:05 pmEarly retirement is a good idea unless more people are hired.
Comment made on December 2nd, 2008 at 9:16 pmEarly retirenment in a budget crisis has a double benifit. The retiree’s are the highest paid to do the job and some are burned out “so to speak” so we eliminate the highest paid employee’s , there are promotions and entry level and some higher posititions available. The unemployed now have opertunities for entry level positions. Yes, there is a drawback we lose some very smart and productive people in the process. Professor’s being one of the harder positions to fill.
Comment made on April 23rd, 2010 at 12:53 pmAs a 52 yo state employee with more than 20 years of service, I want to be part of the solution. Like many of my colleagues who “retired” last year my pension will not afford me to stop working, rather it will give me the much needed, brief, sabatical from working in an impoverished, resource-starved environment with people that no other clinics are willing to serve until I can gather my wits and talents and become re-employed in the private sector. Unfortunately, there are a number of veteran employees whose greed motivates them to burn themselves out by working obscene amounts of overtime to pad their pensions…SAD!
Comment made on April 29th, 2010 at 1:20 pmFurthermore since the program closures and re-deployments several programs around the state are over-staffed now.
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