Were losing some of our best and brightest as they seek other parts of the country where its easier to make a living. The time to pay the bill is now at hand, Suzio said, warning the proposed contracts would be an anchor weighing down state finances for years to come. Likely, the governors spinmeisters will follow the lead of union leaders in referring to all state employees as frontline workers, although many agencies were closed to the public during most of the pandemic. It also calls for a 0.5% raise for employees with . building a betterand more civilConnecticut to live, work, and play. Each tier system applies to employees hired in different periods of time and may include different qualifications for retirement. The Senate version would spend about $2.2 billion on 5% pay raises in each year for state and state-supported local employees, including teachers, plus $1,000 one-time bonuses. While unions and Lamont argue the raises and bonuses will help stem a surge in state employee retirements, Drescher isnt buying it. To contrast, it may be a good time to retire for a 62-63 year old who is collecting Social Security with significant savings in other retirement plans. The long session, as non-election years are called in Hartford, will be centered around the biennial budget. A benefit of the plan is that retirees are eligible for a cost of living adjustment every twelve months after that. Keith M. Phaneuf / CT Mirror; Mar 9, 2022 . Theres a pro-rated bonus for part-time employees. There is ample evidence that this is a fair contract, a reasonable contract, an affordable contract, she said of Connecticuts wage hikes. Currently, if you are subject to IRMAA then the State pays the full amount so you will not have any out of pocket costs. Ned Lamont previously touted the agreement as a way to retain state employees amid a wave of potential retirements. The agreements, which unions ratified earlier this spring, are retroactive to the start of this fiscal year, which began last July 1. Therefore, the first thing you should do is sit down and figure out a monthly budget that will allow you to live the lifestyle you want to live in retirement. How will schools be implementing to curriculum requirements? Those workers will also get a one-time bonus of $1,000 to be paid out in November as part of companion legislation . This is a carousel. By the latest estimates of the comptroller's office, 14,764 state employees a quarter of the workforce will be eligible to retire on July 1, 2022, when a concession deal negotiated in . Ron DeSantis has been a staunch advocate for police officers and has pushed for bonuses for that group. and 75% of the increase above 6%, with a minimum COLA of 2%, and a maximum of 7.5%. Management-level CT state employees to get 7.5 percent raises, Bridgeport police chief wants public to rate officers' service, CT animal shelter is closing, has 66 days to place remaining pets, Christian Abraham / Hearst Connecticut Media, 2023 Hearst Media Services Connecticut, LLC, Police: Man followed and touched customers in CT store, Bridgeport BOE turns to Nebraska firm for superintendent search, Greater Bridgeport digs out quickly from season's first snow, In contract stalemate, Bridgeport police may switch union, Cops: CT man involved in crash after being shot in neck, Warrant: EMT accused of kidnapping broke into CT home in 2019, Bridgeport man convicted in 1993 gets sentence cut to 37 years, Comedian Kevin Hart announces 'Reality Check' tour stop at Bridgeport amphitheater, Woog's World: Compo Beach shouldn't just be for Westport, Closing Monroe animal shelter has 66 days to find homes for remaining pets, 'Saturday Night Live' skit with Woody Harrelson takes place at Naval Submarine Base New London, Residents speak out against Stratford's first proposed cannabis store, EMT accused of kidnapping co-worker in Bridgeport broke into home of exs relative in 2019, warrant shows, The Best Private High Schools Near Stamford, The Best Private Preschools Near New Haven, Guide to Legal Cannabis Dispensaries in CT. When you retire, your employment checks stop, leaving you with less sources of income. As many as 13,000 state employees will be eligible for retirement by July 2022, according to the state Comptroller's office. Though the list of reforms may be exhausting to review, it is far from exhaustive! Connecticut should be a place where everyone can thrive and with your help, it will be. Inevitably, it will be highly unpopular, so the announcement will be buried as deeply as possible and spun like a top by Lamonts spokespeople. Connecticut Teachers' Retirement Board Annual Statements for the 2021-2022 school year will not be available until January 2023 For Active and Inactive Teachers For Retired Teachers For Post Retirement Reemployment For Health Insurance For Employers Search Teachers' Retirement Board Cost of Living Adjustments for 2022 Posted on 11/03/2021 What will our elected officials be working on to improve policy outcomes for Connecticut residents? One source is a pension, another is Social Security, and the last depends on how much you have invested in retirement funds. Beginning after the July 1, 2022 cut off, the State has relinquished their obligation to adjust pension payments at least 2% (current minimum) for inflation. The tipped wage would rise to $6.75 from $3.75 over the same time period. The 35 labor contracts, which were ratified by the various unions last month, include 2.5% general wage increases and step increases retroactive to July 1, 2021. The raises will cost the state $13.3 million and the bonuses $2 million. Lamont will give big fat raises to state workers, Christian Abraham / Hearst Connecticut Media, 2023 Hearst Media Services Connecticut, LLC, Bridgeport police chief wants public to rate officers' service, CT animal shelter is closing, has 66 days to place remaining pets, Police: Man followed and touched customers in CT store, Bridgeport BOE turns to Nebraska firm for superintendent search, Greater Bridgeport digs out quickly from season's first snow, In contract stalemate, Bridgeport police may switch union, Cops: CT man involved in crash after being shot in neck, Warrant: EMT accused of kidnapping broke into CT home in 2019, Bridgeport man convicted in 1993 gets sentence cut to 37 years, the median American household saw its income fall 2.9 percent last year, Comedian Kevin Hart announces 'Reality Check' tour stop at Bridgeport amphitheater, Woog's World: Compo Beach shouldn't just be for Westport, Closing Monroe animal shelter has 66 days to find homes for remaining pets, 'Saturday Night Live' skit with Woody Harrelson takes place at Naval Submarine Base New London, Residents speak out against Stratford's first proposed cannabis store, EMT accused of kidnapping co-worker in Bridgeport broke into home of exs relative in 2019, warrant shows. That would not be connected to the 5.38 percent figure and the $15 minimum wage in the 2022-23 state budget. State Rep. Matt Ritter, the Democratic speaker of the House, says for Republicans to propose tax cuts without some legal guidance and clarity is irresponsible. For some of Connecticuts highest paid pensioners like Jack Blechner, a former UConn Health Center physician who received $342,325.14 in 2020, the COLA amounts to an additional $12,323.70 per year. This means they will apply to all Connecticut employees whose date of retirement is on or later than August 1, 2022.1 The 2022 Changes fall into three different categories: For the 100,000 state and university employees, it's the first day that a $5,000 pay raise kicks in. At Yankee Institute, we know Connecticut is a state with boundless opportunity, and we intend to help make our state more than a place where people are just able to make ends meet! The CREATES report noted that 8,000 employees are eligible for retirement before July 2022 and identified 200 opportunities totaling $600 to $900 million of potential value., **Ken Girardin contributed to this article**, So of you retire prior to October 2021 and receive Your Cola 9 monthe later in July 2022 , will you receive above the normal 2 percent since inflation Is hIgh. They will also experience decreasing purchasing power throughout their first 30 months of retirement until the first cost of living adjustment. what was the fastest dinosaur We would recommend checking out my podcast episodes Properly Estimating Retirement Cash Flows and A Retirement Income Planning Strategy That Works as they would provide useful guidance on this process (put retirement budget here). Beshear's first two-year proposed budget in 2020 included his promised $2,000 raise for all full-time public school teachers and a 1 percent salary increase each year for state workers. Some Republicans have said the hefty bonuses are only an election-year stunt from Lamont, a Democrat, to shore up his standing with his labor base. The state is also hoping the increases will also attract more people to state-level management positions. Union representatives said that state employees have taken six years of wage freezes over several deals and have taken other financial hits including high prescription drug co-pays. McCaw said some of the prior management positions that are now unionized include the assistant attorney general, state police captains and lieutenants, supervisors with the Department of Children and Families, parole managers and deputy wardens. His proposal includes $1,000 bonuses in October and October 2022 for state workers. The raises will cost the state $13.3 million and the bonuses $2 million. . We promise to never sell your information or overload you with emails. Fazio cited a study by the American Enterprise Institute, which found that Connecticut state employees on average are paid 5.6 percent less in salary than a private sector employee with similar qualifications. The document would continue $2,000 raises for teachers and $5,000 raises for state employees that will begin in the separate amended 2022 budget in House Bill 910 that won final passage in the . The workers will also receive additional 2.5% general wage increases and step increases beginning July 1 and July 1, 2023. The managers who will receive the raises include division heads at state agencies, as well as commissioners and. He has been the state finances reporter at CT Mirror since it launched in 2010. Prior to joining CT Mirror Keith was State Capitol bureau chief for The Journal Inquirer of Manchester, a reporter for the Day of New London, and a former contributing writer to The New York Times. Copyright 2023 Nexstar Media Inc. All rights reserved. Any wage hikes and benefits would come on the heels of big wage increases in 2019 and 2020 under the old wage contract, which expired this past summer. Although, if you are near age 65 then it would be potentially wise to wait until after you turn 65 to retire. But Shirley Watson, a unionized clinical social worker for the past eight years at the MacDougall-Walker Correctional Institute in Suffield, noted the relative affluence of many who oppose the raises. The difference between Normal Retirement and Early Retirement is the amount paid out to you. Retirees that qualify for Medicare are currently reimbursed for the full standard Medicare Part B premium by the State. We dont have to continue to overtax our citizens because we took federal money, Senate Minority Leader Kevin Kelly (R-Stratford) said. Unions granted concessions deals in 2009, 2011 and 2017 to help balance state finances. Immigrants. RPPC Request for Application 2022; RPPC RFA 2022 Addendum #1; RPPC RFA 2022 Addendum #2; RPPC RFA 2022 Addendum #3; RPPC RFA 2022 Public Notice of Intent to Award; RPPC RFA 2022 Addendum #4; RPPC RFA 2022 Public Notice of Final Award; RPPC RFA 2022 Addendum #5; Sudden Infant Death Syndrome (SIDS) Program. In other words, the State will pay the full standard premium, plus half of any extra. by Logan, Brown, Hunt, Clemmons. The Medicare Income Related Monthly Adjustment Amount (IRMAA) is an additional premium that must be paid if you make over a certain amount in retirement. In 2015, Connecticut paid $1.7 billion to 49,111 retirees, according to the Comptrollers Open Pension website. CONNECTICUT The state Senate gave final approval to the raise and bonus package for state employees. Privacy Policy. Southington: Adventure Awaits! Republicans say theyre going to pay for a legal challenge on behalf of the people of Connecticut once the federal circuit court makes a decision. The Associated Press contributed to this story. What tax reform proposals will there be? Lamont Nominates Bryan Cafferelli As Consumer Protection Commissioner, CT Native, 27, Killed In Apparent Terrorist Attack In Israel: CT News, Wild 2-Car Shootout Involving Teens Locks Down Schools: PD: CT News, 3 Brentwood HS Students Make PBS '20 Under 20' List Of Storytellers, Brothers Kill Groom On Wedding Night: Authorities, Carjackers Steal More Cars Many With Kids Still Inside, Naperville Family Opens Home, Hearts To Welcome Kids Who Lost Parents, Dog Abandoned With Handwritten Note 'A Good Boy,' Loves To Hug & Kiss. That sum hasnt changed much in two decades. 3 Connecticut . (The state's minimum wage is $11.15 an hour.) The study also found that Connecticut state employees are compensated 33 percent more than a similar private sector employee when pension, healthcare and other fringe benefits are taken into account. Connecticuts pension COLAs, however, are set for a change one year from now prompting concerns over a potential surge in state employee retirements. Delaying these raises for state employees can mean someone else who works at a nonprofit can go back to work and provide needed care for someone who is physically, mentally, or emotionally struggling.. Ned Lamont contracted with the Boston Consulting Group for a report of how to increase state government efficiency. According to state employee union documents, Lamont is proposing to award all unionized state employees three annual base salary increases of 2.5% and, for about two-thirds of employees, annual "step increases" of 2.0%. Mike Parson, a Republican, has proposed raising pay for state workers to at least $15 an hour. Would this be what he does? Last March, in a report that received relatively little media coverage, Boston Consulting Group documented that 27 percent of the state workforce is eligible to retire before June 30, 2022, and that about three-quarters lean toward retirement. If you are concerned about the effects of these changes then you should begin to look at your financial standing and evaluate if you are in a position to retire before July 1st. The adjustment is designed to make the money received have the same purchasing power regardless of the inflation level. It seems the safest short-term solution is to declare the area off-limits for humans at least for the near-term future, pending additional studies. Please reload the page and try again. This proposed contract is a raw deal for the working people of this state, said Sen. Ryan Fazio, R-Greenwich, who noted state workers, on average, would receive more than $10,000 in total added compensation over four years. Some Republicans in the House raised concerns about the bonuses, noting how state workers could still retire even after receiving the bonuses. The Office of the State Comptroller reports that state government found a way to spend $47.11 billion in 2022 and, if trends continue, we can expect that number to grow even more going forward. Once that has been inputted, there are a couple different payment options which will depend on if your relationship status. Morrissey Wealth Management will never sell your information. If you have a pension through the State of CT then the question you should be thinking is, should I retire before the changes take effect? In the past 10 years, the number of management-level state employees has dropped from 2,000 to 1,400, with nearly all of them choosing to leave their posts to join bargaining units and another 60 petitions currently pending, McCaw said. Ned Lamonts administration and already ratified by the 35 bargaining units involved, now heads to the full General Assembly for final consideration. Brief summary of Connecticut state income tax: subject to 0.5% Paid Family and Medical Leave. If you plan to retire prior to turning 65 then doing it before the July cutoff will allow you to lock into the lower premiums. "It has been an incredibly challenging year, but today is a good day for state employees," TSEA Executive Director Randy Stamps said. A benefit of the plan is that retirees are eligible for a cost of living adjustment every twelve months after that. 116 Washington Avenue, 3rd Floor, North Haven, CTcheryl@morrisseywm.com |(860) 986 7881. "It has been an incredibly challenging [&hellip. The Yankee Institute for Public Policy, the Hartford-based conservative policy group that has been mobilizing opposition to the deal, argues this far exceeds the compensation that private-sector workers are receiving as as they struggle with inflation in excess of 8%. Ned Lamont asking union employees to forgo the raise amid record high unemployment and a growing state budget deficit caused by the coronavirus. Lamont also has taken criticism from Republican legislators and others who charge the Democratic governor, who is seeking re-election this fall, is simply trying to curry favor with his labor base, at taxpayers expense. Thank you for being generous with your email. they round to the nearest dollar. The Democratic-controlled Senate voted 22-13 along party lines to approve the contracts, which cover about 46,000 workers the bulk of the state's workforce. Within Tier 1 there are Plans A, B, and C which are based on your annual salary. Ideal timing for the announcement would be between Christmas and the New Year. The issue raised by representatives of the NSHE faculty alliance is that employees represented by a collective bargaining unit a union are in line for a 3 percent pay raise in 2023. Currently, those premiums are 1.5% for hazardous duty retirees and 3% for non-hazardous duty retirees. Since 1997, the State has used a formula to calculate the minimum cost of living adjustment. "To my knowledge, university employees are not included in the pay raises for state workers," she said. The deal is now final since the state Senate and House approved it. The Tennessee General Assembly has passed the FY2021/2022 state budget, including funding for state employee performance raises, bonuses, benefit increases, and various salary adjustments. Massachusetts enacted a measure (HB 4640) to increase the state minimum wage to $15 over five years. In an effort to mitigate the potential loss of thousands of state employees, Gov. There are a few strategies one can take if they are thinking about retirement. However, those who retire after the July 1st cutoff could be negatively impacted as they could experience cost of living adjustments below 2%. State Senate Republican leader Len Fasano also asked unions to hit pause on their scheduled raise, which will cost the state $119 million in the general fund and $15.3 million in the special transportation fund. More than 3,400 state employees have retired or have filed written intention to retire this year, but that number is expected to increase before July 1. Republican House Leader Vincent Candelora of Branford, in a statement following Thursdays announcement questioned how the raises will affect not only current contract talks with union negotiators for rank-and-file workers who want more pay, but also the work of a new task force charged with studying this issue and reporting back to the legislature., Candelora attributed the structural gulf between non-union managers and unionized employees to a vicious circle that's fueled by people at the Capitol whose baseline position is to give state employee unions everything they want.. 2022, for employers with 26 or more employees. Each year of the package includes a 2.5% general wage increase, as well as a step hike for all but the most senior workers. Setting your budget for retirement. Therefore, some retirees will experience out of pocket costs that they wouldnt have before. Gov. Part-timers would be eligible for pro-rated bonuses. Budget panel endorses raises, bonuses for CT state workers Full legislature expected to vote before May 4 by Keith M. Phaneuf April 18, 2022 @ 1:08 pm Rob Baril, the president of SEIU 1199,. Missouri Gov. The House bill . Polis said the benefits guaranteed in the agreement with Colorado WINS will help "ensure that we can attract great people to our state workforce to do the work of the public for . Fiscal conservatives and other critics of the deal were equally passionate, arguing it far exceeded the pay hikes being granted in the private sector and also would hamstring state finances for decades. The full legislature is expected to vote on the tentative wage agreements before the regular 2022 General Assembly session closes on May 4. A wave of state employee retirements is expected in the coming months, resulting in an "unprecedented" loss of knowledge and skills, some officials say. The virtually inevitable pay hikes and favorable benefit modifications will then be classified as hardship pay to reward for employees for their phantom frontline service.. Thn 5, x hong tn,th x qung yn, tnh qung ninh. Tier 1 is a contributory defined benefit retirement plan for those hired on or before July 1, 1984. The governor's spending plan would add the $5,000 raises for full-time employees to the 2022 budget and make a permanent $5,000 cost-of-living adjustment in fiscal year 2023, which starts July 1. To be eligible for Medicare a retiree must be of age 65 or older. While annual retirements usually range from 2,000 to 2,500 per calendar year, more than 3,400 state employees have either retired or filed their written intentions to do so between January and March 31, 2022, alone. To that end, we have produced a new edition of our Charter for Change. Both of which will have a negative impact on those who retire after June 30, 2022. Gov. They also propose a permanent lowering of the income tax so middle-class families can save $750 a year. The Senate gave final approval Friday to a four-year package of raises for state employees that includes $3,500 in bonuses to help stem a surge in worker retirements. They also cover the next two fiscal years and potentially 2024-25 as well. $3.1 billion rainy day fund$3.95 billion in black ink this fiscal yearA grand total of slightly more than $7 billion. The new raises are intended to give greater confidence to these managers that they will have consistent treatment with the union employees. Governor, show some courage, join hands with the Republicans so we can get a budget that helps the entire state of Connecticut, not just a few, Candelora said. If you worked and retired in CT, then you will have access to more options. But former state Sen. Len Suzio, a Republican from Meriden, said Connecticuts long-term fiscal position is very different. Lamont joined others to announce the deployment FEMAs new COVID-19 mobile vaccination unit, which is set up and running this week in the zoos parking lot. "But this is also a unique situation where state employees did extraordinary work during a paradigm-altering pandemic, inflation has concurrently increased, and the state workforce could potentially undergo significant changes due to retirements and uncompetitive wages.". Get CT Mirror emails in your inbox daily. FY 2022 Financial Results At or Above High End of Guidance with Practice Collections Growth of 49.1% compared to FY 2021; New Market Entries announced in Connecticut, Delaware, No Going forward, these employees will be entitled to receive wage and benefit provisions that their union counterparts will receive, per language the governors office included in the 837-page budget implementer bill passed this legislative session, McCaw said. BCG was to help accelerate efficiency efforts, enabling the state to operate with less manpower. The House Finance Committee changed that to be a $10,000 raise for all troopers. 4 Things to Know Before Doing a 401(k) Rollover with Raytheon (RTX), 8 Things to Know Before Buying a Second Home in Retirement, Morrissey Wealth Management LLC, 116 Washington Avenue, North Haven, CT, 06473, United States, 2 Upcoming Changes for CT State Employees Pensions in 2022, Avoid Overpaying for Medicare in 2021 and Beyond, Properly Estimating Retirement Cash Flows, A Retirement Income Planning Strategy That Works. By 2020, the state paid $2.2 billion to 55,348 retirees. These different plans under Tier 1 determine the amount that you will contribute towards the pension plan. This memorandum will help you explain the 2022 Changes to employees who are planning their retirement by clarifying the following key facts: 1. Gov. The budget includes a $500 pay raise for all state employees. It is unsustainable and, more plainly, unjust. Employees not represented by a union will only get a 1 percent raise. BCG documented that the sclerotic state bureaucracy takes an average of 33 weeks to hire a new employee. The raise was negotiated as part of a 2017 agreement between the state and the State Employees Bargaining Agent Coalition. Are more state employees retiring than usual? Ned Lamont administration to attract more people to stay and move into these jobs, and to make their salaries more in line with unionized workers. He could outsource functions, but the state already pays outside providers an enormous amount about $1.4 billion annually to nonprofits. Meanwhile those who retire after the cutoff will only get one cost of living adjustment at the end of their first 30 months of retirement. A native of Philadelphia, Julia now calls Connecticut home, but won't give up her 215 area code. For example, an employee earning 50,000 may receive a $2,500 pay increase resulting in . Carney's budget plan was built off DEFAC's December revenue estimate of $4.765 billion for FY 2022. The Consumer Price Index for Urban Wage Workers and Clerical Workers known as the CPI-W increased 6 percent between July of 2020 and July of 2021, according the Bureau of Labor Statistics, with the price of nearly everything increasing substantially in recent months. Many ancient pipes in CT aren't up to the task of draining storm water, yet officials just seem to shrug. As state budget negotiations continue, lawmakers have agreed to across-the-board salary increases for state employees by 5.38 percent to address rising inflation. The raises provided to state managers mirror what the state provided to union workers over the past four years under the 2017 agreement with the State Employees Bargaining Agent Coalition. Here are five things to know about the deal: Employees covered by the State Employees Bargaining Agent Coalition would get a 2.5 percent wage increase and step increases retroactive to July 1, 2021. While many may disagree, I believe that allowing this contract to stand will offer little tangible benefit to the vast majority of Connecticut citizens but will continue to stand in the way of making significant improvements to badly needed mental health and other vital human services, he said. The Office of Fiscal Analysis estimates the package will cost the state $1.87 billion over four years. Today were living in a post-COVID world, where employees and not employers are ruling the job market, said Sen. Cathy Osten, D-Sprague, co-chairwoman of the Appropriations Committee. The state felt that the 2.5% was an amount that was affordable and was less than what likely would have been granted at arbitration, Beckham said. They are our people, who we count on each day to make us safe, she said. The 2002 Changes will increase the amount deducted from the retirement benefits of certain employees to pay for state-provided retiree health insurance. The. There was an error and we couldn't process your subscription. In addition, $23 million has been set aside . Ned Lamont defended raises and bonuses Tuesday that could boost state . State prisons have been a petri dish for the spread of COVID-19, added Howard, who contracted the virus in February 2020 and now takes seven medications to manage heart complications brought on by that infection. State tends to be very follow what it says exactly so if we are supposed to get 3 raised then they will process 3 raises one after the other most likely, not one 7% raise. Published April 21, 2022 Updated on April 21, 2022 at 2:04 pm. Prefer listening instead of reading? Would he risk all the ARPA funds that the state has by doing this? Ritter warned. Those who were previously part of Tier 1 and 2, left their job, and then were rehired after July 1, 2011, would also find themselves within the Tier 3 plan. That includes Gov. A) September 1, 2021 State Employee Bonus Item 477, paragraph JJ authorizes a $1,500 one-time bonus to all full time salaried classified employees of the Executive Branch and other full time employees of the Commonwealth, except elected officials, who were employed on April 1, 2021, and remain employed until at least August 24, 2021. According to the Office of Legislative Research in their analysis of a potential retirement wave, COLAs for new retirees will match the CPI-W during years it is 2 percent or less. 1 determine the amount that you will have consistent treatment with the union to! 49,111 retirees, according to the 5.38 percent figure and the state employees amid a wave of potential.! With your help, it will be state Sen. Len Suzio, a Republican has. 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Will receive the raises will cost the state has by doing this House concerns... Morrisseywm.Com | ( 860 ) 986 7881 your relationship status checks stop, leaving you with sources. To overtax our citizens because we took federal money, Senate Minority Leader Kevin (. We could n't process your subscription you are near age 65 then it be... Will experience out of pocket costs that they will have consistent treatment the! Measure ( HB 4640 ) to increase the amount that you will have a negative on. Other words, the state has used a formula to calculate the minimum cost of living adjustment isnt buying.... Employees bargaining Agent Coalition much you have invested in retirement funds 0.5 % paid Family and Leave! 1.4 billion annually to nonprofits doing this 7.5 % state $ 1.87 billion over four years 3 % hazardous! Timing for the full standard premium, plus half of any extra it would be potentially wise to until... 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