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 ...
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) ...
Recent news reports confirm what many have suspected for some time — young people are leaving Connecticut. How does this relate to pension debt? As a current graduate student who would like to stay in Connecticut after I finish school, I’ll explain. The state has accumulated billions of dollars of pension debt, and now it is trying to figure out how to pay that debt off.