Part of the bipartisan budget passed in November included raising teachers’ contribution toward their pensions from 6 to 7 percent, but a bill passed out of the Finance, Revenue and Bonding Committee would roll that contribution back.
Connecticut's retirement healthcare fund for state employees is short $36 billion, which amounts to more than $10,000 per person in the state, according to a new study by the American Legislative Exchange Council.
The State of Connecticut employs nearly 50,000 people on a full-time basis and like most employers, they provide benefits to help employees plan for their retirement. Unlike most private sector employers, however, public employees are provided a defined-benefit retirement plan that provides benefits as calculated by a complicated formula rather ...