The president of the Connecticut Hedge Fund Association told lawmakers Tuesday in no uncertain terms that hedge fund companies would move to other states if Connecticut imposed a 19 percent surcharge on investment management services.
Marc E. Fitch
Since it began in 2011 Gov. Dannel Malloy’s controversial First Five program has awarded $381.6 million in grants and tax credits to major Connecticut companies and it has done so with virtually no public oversight. But that might change if a bill backed by state Comptroller Kevin Lembo is able to jump the legislative hurdles and get Malloy’s signature.
A former resident of Vernon was indicted Thursday by a federal grand jury for using a fake pita company to fraudulently obtain $3 million, including $400,000 from the state of Connecticut.
Over one thousand retired state employees are receiving six-figure pensions, a nine-fold increase since 2010 when only 110 retirees received six-figure pensions. According to data from the state comptroller's office the six-figure pensions for 1,030 retired state employees adds up to $120.1 million per year.
Healthcare costs for retired state employees are projected to surpass the healthcare costs for current employees for the first time in 2017, according to the governor’s budget report.