Connecticut has long been known for having a high population of wealthy individuals, but according to a recent report Connecticut has fallen far behind other states in producing new millionaires. Among the nine states which have the highest number of millionaires, Connecticut had the slowest growth in the number of households earning over $1 million, according to a report by the New York-based Empire Center for Public Policy.
Connecticut state employees arrested in Whiting investigation still being paid, still eligible for pensions
The nine Connecticut state employees arrested by police for abuse of a patient at the Whiting Forensic Division of Connecticut Valley Hospital in Middletown continue to be paid by the state, according to the Department of Mental Health and Addiction Services. A spokeswoman for DMHAS, Diana Lejardi, confirmed that none of the arrested employees have been terminated because the investigation is ongoing.
A survey by the Connecticut Business and Industry Association shows that business owners want Connecticut to reform its state retirement benefits by a wide margin. Of the business owners surveyed, 91 percent want reforms to Connecticut’s state pension system, which includes eliminating overtime from pension calculations and moving employees into a 401(k) style defined contribution plan.
Noticeably absent from the latest budget by House Democrats are 11 of the 12 reforms Democratic senators requested as a condition of their approval of the union concessions deal passed on July 31st. In exchange for their votes, the Senators composed a list of 12 cost-saving reforms, which included requiring a vote on every union contract, reforming arbitration laws and ending overtime in pension payment calculations after the expiration of the SEBAC agreement in 2027.
Fewer and fewer students are enrolling in Connecticut’s schools but that hasn’t stopped education budgets from growing and per-pupil costs from sky-rocketing to previously unheard of levels, according to figures compiled by the Western Connecticut Council of Governments. The median, inflation-adjusted per-student cost in Connecticut has grown 35 percent between 2006 and 2016, largely due to declining enrollment coupled with growing budgets.
A study of Connecticut’s population loss conducted by the Office of Policy and Management shows that Connecticut is experiencing a “slight loss” of individuals earning more than $5 million per year. The loss of high earners could be especially problematic for a state that relies heavily on its highest income tax bracket for state revenue.