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
Connecticut would have to pay 35 percent of its total revenue for the next 30 years to cover all its retirement obligations to state employees and teachers, according to a report released by JP Morgan.…
The Appropriations Committee released its state funding recommendations Tuesday, which showed a $544 million dollar growth in fringe benefit costs for Connecticut state employees between 2019 and 2021. The Appropriations Committee budget recommendations largely fell…
Early reports of budget recommendations from Connecticut’s Appropriations Committee showed the Committee rejected Gov. Ned Lamont’s proposal to force municipalities to cover a portion of the state’s teacher pension costs. But that major point of…
Connecticut has the worst-funded pension system in the country, maintaining its position from last year at the bottom of the list even as state pension payments continue to increase. The American Legislative Exchange Council released…
In an interview with CNBC, famed investor Warren Buffet warned companies to stay away from states facing major pension problems, a blow to Connecticut which has one of the worst-funded state pension systems in the country.…
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…
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 Comptroller Kevin Lembo announced a new pension…
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 fund.…
Connecticut ranked 49th in the country in a new analysis of state fiscal health by Truth in Accounting because of its massive taxpayer burden of $53,400 per person, once again labelling Connecticut as a “sinkhole state.”…