Since 2012, Connecticut has paid the full annual cost of pensions for the state’s Judges, Family Magistrates and Compensation Commissioners Retirement System, nevertheless the pension debt for judges has increased during that time. Although much smaller than Connecticut’s other retirement systems for teachers and state employees, the JFMCC Retirement System ...
Want to know how many state employee pension payments go out of state? Or the average pension payment? What the highest pension payments are and to whom?
State Treasurer Denise Nappier offered a presentation to the state’s Pension Sustainability Commission outlining the difficulties facing Connecticut’s Teachers Retirement System and suggested transferring $3 billion in state assets and bonds to teacher pension system.
If nothing had changed, Connecticut would not be trapped in the situation it is now. But Connecticut also allows collective bargaining agreements to supersede state law, allowing subsequent SEBAC agreements to once again underfund state employee pensions.
Connecticut’s new Pension Sustainability Commission held a press conference today in the Legislative Office Building to announce its mission: to consider transferring state assets to Connecticut's pension funds to help reduce the state's unfunded liabilities.