James P. Torgerson, President and CEO UIL Holdings ... - CBIA
James P. Torgerson, President and CEO UIL Holdings ... - CBIA
James P. Torgerson, President and CEO UIL Holdings ... - CBIA
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Recent Action- State of Connecticut <strong>and</strong> SEBACRecommended by CT211. Require contributions to medicalcoverage costs.2. Implement managed care <strong>and</strong> wellnessprograms.3. Increase the age at which employees areeligible to retire with full benefits.4. Bring early retirement benefits in linewith market rates <strong>and</strong> relevantequivalents of normal retirement.Accepted1. All employees to begin paying ½% to 3%per year to the Retiree Healthcare TrustFund – No new increase in sharingcurrent costs.2. Boost preventive care plan <strong>and</strong> new costsfor br<strong>and</strong> name drugs <strong>and</strong> emergencyroom visits.3. 3 year increase starting in 2022.4. Early retirement subsidy reduced from6% to 3%. Premium sharing increasesfor early retirees.5. Eliminate COLAS.5. COLAS will use same formula, butminimum goes from 2.5% to 2.6. Change averaging period from 3 to 5years for retirement calculation.276. Final average earnings computationbased on 5 yrs for some new hires.<strong>CBIA</strong> – May 2011
Change language