A new annual report from Truth in Accounting found Connecticut has $67 billion in bonded debt and unfunded retirement costs, making it the third most indebted state per taxpayer in the nation. The total debt, which amounts to $50,700 per taxpayer in the state, is based on Connecticut’s 2019 financial ...
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 such reforms in Connecticut are unlikely under the state’s 30-year contract with state employee unions. ...
Analysis: Preview of the budget battle ahead Democrats are gearing up for an intra-party squabble about how to close the $3.7 billion two-year budget deficit. This year’s budget battle won’t be Democrats vs. Republicans, but rather progressive Democrats vs. moderate Democrats. Unfortunately, the disagreement isn’t over whether to raise taxes ...
Connecticut’s official balance sheets will be noticeably worse next year due to changes in how the state reports its retiree healthcare liabilities, according to a report by the organization Truth in Accounting.
Connecticut has the most underfunded pension system in the nation, amassing more than $127.7 billion in liabilities, according to an annual study by the American Legislative Exchange Council.