We reviewed the recently ratified labor agreements with the Service Employees International Union (SEIU) Local 1000, the largest state employee union. The administration estimates that the state's net savings under the proposed agreements will be $383 million ($164 million General Fund) in the current fiscal year—compared with costs negotiated in prior Local 1000 memoranda of understanding (MOUs). The administration’s estimates are generally reasonable, but we (1) discuss concerns we have with the administration’s assumption that leave days will not result in overtime costs or productivity losses, and (2) compare the MOUs’ costs with the previous three-day-per-month furlough program. Finally, we discuss the current status of state employee collective bargaining and major employee compensation policies currently affecting executive branch employees.