Governor Charles D. Baker's Budget Recommendation - House 1 Fiscal Year 2016

Outside Section 29



Previous Outside Section Next Outside Section

 

ERIP Savings

SECTION 29.   Notwithstanding any general or special law to the contrary:
(a) Whenever the secretary of administration and finance determines that an early retirement incentive program has resulted in cost savings for an agency of the executive department during fiscal year 2016, the secretary may reduce allotments under section 9B of chapter 29 of the General Laws to reflect some or all of the amounts saved.
(b) If as of October 1, 2015 the secretary of administration and finance determines that allotment reductions related to an early retirement incentive program in fiscal year 2016 shall be insufficient to generate fiscal year 2016 direct payroll savings of $325,100,000, without counting the sums appropriated in items 1599-0055, 1599-0057 and 1599-0063 contained in section 2, the secretary may submit to the chairs of the house and senate committees on ways and means a cost saving plan to reduce allotments under said section 9B of said chapter 29; provided, however, that no allotment reductions shall be made under this subsection before the submission of a cost savings plan.
 
 

Summary:
This section recognizes the savings that are expected to result from the early retirement incentive program (ERIP). It authorizes the secretary of administration and finance to reduce allotments by $325.1 M, the expected amount of gross savings from implementing that program.



top of page link top of page