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 teacher pension system is under-stating its unfunded liabilities by using too high of a discount ...
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 inflation, a defined contribution plan could yield similar retirement savings to that of the existing ...
** 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 fail current and future retirees if it is not equitably and carefully reformed – soon. ...
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 the Great Recession which saw stock markets and real estate values tank – a period ...
Requiring municipalities to take more responsibility for their teachers’ pension costs makes some sense – if those towns have the power to lower those pensions or the teachers’ other compensation. To do so any other way is old-style taxation without representation, of the sort for which we gave King George the boot. ...
Connecticut’s two largest pension funds for teachers and state employees received 16 percent returns over the course of one year thanks to a surging stock market, giving the state a much needed boost.