Connecticut has the worst-funded pension system in the country, according to a new annual report released by the American Legislative Exchange Council. Using a “risk free” discount rate – which increases the state’s estimated pension
Pensions
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
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