The amount of money Connecticut expends on overtime payments and workers' compensation costs is outpacing its nearest neighbors, according to a report by the Boston Consulting Group. The report, which looked for ways to make…
Pensions
The University of Connecticut and UConn Health are pushing for legislation that would require the state of Connecticut to cover roughly $100 million in unfunded pension and retiree healthcare costs the institutions normally have to…
Connecticut’s long-term debt grew $8.4 billion between 2019 and 2020 due to increased liabilities for Connecticut’s retirement systems, according to the newly released Comprehensive Annual Financial Report. Connecticut’s unfunded pension and OPEB liabilities increased from…
Testifying before the Finance, Revenue and Bonding Committee Tuesday, New Haven Mayor Justin Elicker said New Haven’s unfunded pension liabilities are driving the city’s $66 million deficit, leaving him few options but to raise property…
The Center for Retirement Research at Boston College published a brief saying public pension plans should avoid tailoring their investment strategies to satisfy calls for political, social and environmental justice, known as ESG (environmental, social…
A new report from Fitch Ratings placed Connecticut second only to Illinois in the amount of state debt compared to personal income. The 2020 State Liability Report looked at direct debt and net pension liabilities…
An audit of the Department of Emergency Services and Public Protection found that 56 percent of state troopers singled out for review earned more than 100 percent of their base salary through overtime. “These employees’…
A new annual report from Truth in Accounting found Connecticut has $67 billion in bonded debt and unfunded retirement costs, making it the third most indebted state per taxpayer in the nation. The total debt,…
The University of Connecticut and UConn Health Center is asking the state of Connecticut for a combined $102.7 million to help mitigate their losses stemming from the COVID-19 pandemic, according to figures presented to the…
Barron’s, the financial investor publication, conducted an overall “credit worthiness” scorecard for states and ranked Connecticut near the bottom of the pack, despite a hefty budget reserve fund. Connecticut currently has an A1 stable credit…