The Office of the State Treasurer says that it worked with teachers’ union officials, the Governor’s Office and the Office of Policy and Management on pension changes that union officials are now telling their members are “illegal.” Language included in the 2019 Connecticut budget revised the death benefit pension payout for Connecticut teachers who adopt ...
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 ...
Early reports of budget recommendations from Connecticut’s Appropriations Committee showed the Committee rejected Gov. Ned Lamont’s proposal to force municipalities to cover a portion of the state’s teacher pension costs. But that major point of divergence from the governor’s budget turned out to be a mistake. At a press conference ...
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. ...
State Treasurer Denise Nappier offered a presentation to the state’s Pension Sustainability Commission outlining the difficulties facing Connecticut’s Teachers Retirement System and suggested transferring $3 billion in state assets and bonds to teacher pension system.