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
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.…
The Internal Revenue Service has issued rules that will possibly lower pension payouts for some retired Connecticut state employees, or force others to pay money back to the state retirement system, according to a memorandum…
The Center for Retirement Research at Boston College issued a report on the pandemic's effect on state and municipal pension systems and listed Connecticut’s State Employee Retirement System as one of the ten worst-funded pension…
Connecticut’s teacher pension debt is officially listed at $16.8 billion, but a new study says that figure might be much higher. According to a new study published by Yankee Institute, Connecticut’s discount rate for its…
Banking giant J.P. Morgan issued a report estimating the impact of the COVID-19 pandemic and economic downturn on states’ unfunded pension and retiree healthcare liabilities, noting Connecticut would have to pay nearly 40 percent of…
More than 1,600 retired state employees now have pensions over $100,000 per year, totaling an annual payout of $191.9 million, according to numbers provided by the State Comptroller’s Office. The 1,609 retirees receiving six-figure pensions…
Republican Senate Leader Mitch McConnell, R-Kentucky, said on Wednesday he would rather see states declare bankruptcy than issue another $500 billion requested by the National Governors Association to bail out states facing lower revenues and…
The State of Connecticut and municipalities face a substantial burden – and now threat – from pension and retiree healthcare funds, as the stock market has plunged in recent weeks, which could leave taxpayers on…
The Office of the State Treasurer says that it worked with teachers’ union officials, the Governor’s Office and the Office of Policy and Management on pension changes that union officials are now telling their members are "illegal." Language included in…