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 as a percentage of personal income and found Connecticut’s debt accounted for roughly 26 percent ...
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’ base salaries ranged from $44,129 to $83,137, while overtime ranged from $50,968 to $190,677,” the ...
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, which amounts to $50,700 per taxpayer in the state, is based on Connecticut’s 2019 financial ...
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 state Appropriations Committee on August 28. The requests are due to losses from fiscal year ...
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 outlook from Moody’s Investor Services and an A rating from S&P Global Ratings. However, according ...
Mark Cusson, the former nurse at Whiting Forensic Hospital who was convicted in court of abusing patient William Shehadi, is collecting an $88,229 pension while serving his sentence, according to the state’s Open Pension website. Cusson was found guilty of the abuse in August of 2019 and sentenced to 15 ...