Connecticut’s Teachers Retirement System is underfunded by at least $13 billion and the state’s actuarily required contribution has grown 145 percent over the past ten years.
The Connecticut State Department of Education may penalize some towns for reducing their education budgets after Gov. Dannel Malloy cut education funding for municipalities.
A bill authorizing the state of Connecticut to conduct a study on viability of education savings accounts drew a bevy of experts and advocates to a packed public hearing before the Education Committee on Thursday.
Seven families with children in the Hartford public school system filed suit against the State Department of Education today over what they say are unfair enrollment quotas for Hartford’s magnet school system.
Connecticut lowered the discount rate of the teacher’s retirement system from 8.5 percent to 8 percent in 2016, but it still remains higher than most other states. According to NASRA the median discount rate has dropped to 7.5 percent.