The State of Connecticut and municipalities face a substantial burden – and now threat – from pension and retiree healthcare funds, as the stock market has plunged in recent weeks, which could leave taxpayers on
Teachers Retirement System
Connecticut’s teachers' unions are angered over changes to how the state calculates teacher pension death benefit payments for spouses and are working behind the scenes to reverse the reforms, according to emails obtained by Yankee
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A state employee pension fact sheet released by the Office of Fiscal Analysis on Monday showed that, despite efforts to fully fund Connecticut’s state employee retirement system, the funding ratio has dropped from 48 to
According to the budget deal released Sunday evening, Gov. Ned Lamont and Democrats were able to reach a deal on a paid family and medical leave program, which is included in the $43.35 billion two-year
Connecticut has the worst-funded pension system in the country, maintaining its position from last year at the bottom of the list even as state pension payments continue to increase. The American Legislative Exchange Council released
Governor-elect Ned Lamont will face a daunting task when he and fellow Democratic lawmakers assume full control of the state’s finances in January, according to a newly released report by Truth in Accounting. In a
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 fund.
Gov. Dannel Malloy’s budget chief offered a roadmap for Governor elect Ned Lamont’s new administration, which included eliminating scheduled tax cuts, cutting back Medicaid, reducing state aid to some municipalities, and transferring some teacher pension
Connecticut’s new Pension Sustainability Commission held a press conference today in the Legislative Office Building to announce its mission: to consider transferring state assets to Connecticut's pension funds to help reduce the state's unfunded liabilities.