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
North Carolina recently overhauled its retirement medical benefits for state employees – also known as OPEB – to relieve a growing $34.4 billion debt, according to a new report released by the Manhattan Institute, but…
Connecticut’s total state and local unfunded pension and other post-employment benefits (OPEB) liability is a whopping $124.9 billion, according to an independent report delivered to the Connecticut Council of Municipalities. Pro Bono Public Pensions, a…
The Rhode Island Supreme Court has upheld a Superior Court decision to allow the City of Cranston to cut cost of living adjustments for city retirees, citing the city’s dire fiscal problems. In 2011, Cranston…
Connecticut’s teachers may be better off with a 401(k) style, defined contribution retirement plan than under Connecticut’s massively underfunded pension system, according to some number crunching. Assuming a 6.5 percent employer match and adjusted for…
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** For the full study including charts and graphs, please download the PDF** Yankee Letter Across Connecticut, the teacher pension system is not working for teachers, taxpayers or children. And it has the potential to…
Connecticut remained a “sinkhole state” in this year’s state-by-state ranking and report from Truth in Accounting, a Chicago based think-tank that analyzes government accounting data. Connecticut ranked 48th in the country because of its high…
In 2008, Connecticut took out a $2 billion pension obligation bond in order to boost its teacher pension fund, which the state had underfunded for decades. The timing was calamitous as the country entered into…
A state employee pension fact sheet released by the Office of Fiscal Analysis on Monday showed that, despite efforts to fully fund Connecticut’s state employee retirement system, the funding ratio has dropped from 48 to…