pension liability

Pension and healthcare costs for employees with the Department of Transportation grew $30 million over three years, increasing operating costs for Connecticut’s beleaguered Special Transportation Fund. According to figures from the State Comptroller’s Office, between 2014 and 2017 state pension contributions increased $21 million, while healthcare costs increased $9 million.

Connecticut’s pension system may be in much worse shape than previously thought according to a new study from the Hoover Institution, a public policy think tank at Stanford University. In 2015, Connecticut reported its pension liability as $30 billion but the Hoover Institute study says that figure was actually $68 billion.