Malloy releases analysis of overtime estimates

HARTFORD — Gov. Dannel P. Malloy isn’t in the room with legislative leaders negotiating a budget, but he’s trying to anticipate and steer some of that discussion from the outside.

One of the ideas he believes they’re debating behind closed doors is removing overtime as part of the pension calculation for any new state employees who won’t be vested by 2027.

Malloy’s administration had the actuaries with Cavanaugh MacDonald Consulting LLC draw up two scenarios.

The first scenario, which Malloy said was legal, would remove overtime from pension calculations for newly hired employees who aren’t vested. Actuaries found it would only save about $5.32 million over two years, and the savings projected for fiscal year 2018 probably wouldn’t be realized until 2020.

The second, which he believes would be illegal and is part of the reason he vetoed the Republican budget, would eliminate overtime from pension calculations from vested state employees. He said the actuaries found it would save about $51 million over two years, which is far less than the $322 million included in the Republican budget that passed with the help of eight Democratic legislators.

“I hope this new information is useful to legislative leaders as they work to send a responsible and balanced budget to my desk,” Malloy said. “I’m hopeful they will not remake the very mistakes of our past the same mistakes that put Connecticut in its current financial predicament.”

Malloy said the numbers prove there is no way to accomplish the savings that were outlined in the Republican budget.

“The whole thing is a castle built of sand. No cement,” Malloy said.

Malloy said he’s wary the legislative leaders won’t reach a budget agreement, or they will reach a budget agreement he can’t sign.

“I’m hopeful they will reach an agreement I can sign,” Malloy said. “But I think it’s best to be transparent. This is the 12th day of those discussions.”

Legislative leaders have maintained their focus on negotiations without the governor’s interference. They were still behind closed doors Tuesday at 5 p.m.

This story has been modified from its original version. To read the original, visit ctnewsjunkie.com.