Connecticut’s long-term debt grew $8.4 billion between 2019 and 2020 due to increased liabilities for Connecticut’s retirement systems, according to the newly released Comprehensive Annual Financial Report. Connecticut’s unfunded pension and OPEB liabilities increased from…
unfunded teacher pension
Connecticut’s teacher pension debt is officially listed at $16.8 billion, but a new study says that figure might be much higher. According to a new study published by Yankee Institute, Connecticut’s discount rate for its…
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…
In 2008, Connecticut took out a $2 billion pension obligation bond in order to boost its teacher pension fund, which the state had underfunded for decades. The timing was calamitous as the country entered into…
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…