The Internal Revenue Service has issued rules that will possibly lower pension payouts for some retired Connecticut state employees, or force others to pay money back to the state retirement system, according to a memorandum from the Office of the State Comptroller. In some cases, the pensioner may see an ...
More than 1,600 retired state employees now have pensions over $100,000 per year, totaling an annual payout of $191.9 million, according to numbers provided by the State Comptroller’s Office. The 1,609 retirees receiving six-figure pensions represents an increase of more than 200 individuals since the previous count by the Hartford ...
A committee in charge of managing charitable funds donated by state employees through a payroll deduction was found to have several reporting problems, according to a new audit. The State Employees’ Campaign for Charitable Giving was created by statute and allows state employees to authorize a payroll deduction that goes ...
Connecticut received a “B” rating in a new report that ranks states based on the transparency of economic development incentives given to businesses to either move into, or remain, in the state. It was the third highest grade in the United States. The report issued by Frontier Group and U.S. ...
A new study from the Manhattan Institute, a free-market think tank based in New York City, reported improvements for one of Connecticut’s underfunded long-term debts – namely its medical benefits for state retirees and teachers. Connecticut saw a decrease in the state’s actual liabilities for its other post-employment benefits (OPEB) ...
The Office of the State Comptroller procured a $330 million personal service contract, but the contractor did not actually sign the agreement until 135 business days after the start of the contract period, according to a new audit. Although the contract had been signed by both the Comptroller’s Office and ...