This week focused on Gov. Bill Lee’s State of the State and his proposed FY 24-25 budget. TSEA published a full recap of the governor’s speech and proposed budget on our website here. Below are a few key highlights.
Key Budget Proposals:
- Pay for Performance: The proposed budget earmarks $49 million for executive branch agencies, equating to a 3% pool for performance-based raises. The exact award percentages will be determined based on individual performance evaluations later in the year.
- Non-TEAM Act Employees: An allocation of $15 million is proposed, also translating to a 3.0% salary pool.
- Higher Education Employees: A 3.0% salary pool is recommended, with allocation discretion given to individual institutions.
Governor’s Acknowledgments and Initiatives:
- Governor Lee commended the Tennessee Department of Transportation (TDOT) employees for their dedication and hard work during the recent adverse weather conditions.
- Proposed initiatives include hiring an additional 60 state troopers, the merger of the Commission on Aging and Disability with the Department of Intellectual and Developmental Disabilities, and the addition of eight new state parks.
401(k) one-year match increase not extended:
Unfortunately, the proposed budget does not extend the one-year 401(k) match increase, which has been in place for the last two years (initially passed in 2022 and extended last year for one additional year). TSEA will continue to monitor the budget and, if funds emerge, work with your legislators to try securing funding to reinstate the match increase. If funding remains unavailable, your 401(k) will revert to the statutory amount of a $50 match.
Links:
TSEA Recap of 2024 State of the State
2024 State of the State transcript
Fiscal Year 2024-2025 Budget Publications
While this week focused heavily on the budget, we are also closely monitoring a few bills for their potential impact on state employees. We will publish a list of these bills on our website next week.
In the coming days and weeks, TSEA will attend future budget hearings, meet with your legislators, continue to review the governor’s proposed budget, and relay any additional information as it becomes available.
Thank you for all you do for Tennessee and for being a member of TSEA.
Northeast Legislative Event
TSEA is excited to announce we are holding the Northeast Legislative Event in Elizabethton on Saturday, Feb. 24, 2024, at 9:00 a.m.
Our regional legislative events allow TSEA members to hear directly from their state legislators in person and in their own communities. These events allow our members priority access to their state elected officials outside their hectic state legislature schedules.
Details about the Northeast Legislative Event are included below. If you want to attend, please RSVP by the date below.
We look forward to seeing you soon!
TSEA’s Northeast TN Legislative Event
Saturday, Feb. 24, 2024
9:00 a.m.
Elizabethton TCAT
426 Highway 91 North
Elizabethton, TN 37643
Please RSVP by Wednesday, Feb. 21 at the link below:
