Bristol’s pension plan is so flush with cash it’s considering investing a few hundred thousand dollars in companies to boost economic development.
A new study of public pension funding by the states has determined that Connecticut has one of the top-ten unfunded pension liabilities in the country, with 53 percent of the $44.8 billion it owes long-term .
A nonpartisan analysis shows a $3.1 billion difference between how much Gov. Dannel P. Malloy expects to save from changes to the state’s pension plan, and how much the General Assembly’s budget office is now projecting.
Gov. Dannel P. Malloy has unveiled a plan that will speed up state payments to Connecticut’s underfunded state employee pension system, a move he says will ultimately make it fully funded by 2032.
Moody’s Investors Services has downgraded Connecticut’s general obligation bonds from the Aa2 rating it has held for 21 months to Aa3. Budget chief Ben Barnes lashed out — saying Moody’s took the action to detract attention from what he called the rating’s services “historic lack of credibility.”
Gov. Dannel P. Malloy wants Connecticut lawmakers to roll back some state employee benefits now that workers have defeated a labor-savings and concessions deal that included benefits changes.
Lawyers representing Fairfield, Conn., are facing off in court with lawyers for family and associates of disgraced financier Bernard Madoff in an effort to reclaim about $42 million lost by the town’s pension fund.
NEW LONDON, Conn. (AP) _ A Plainfield woman charged with fraudulently getting overtime pay at her state job when she was actually gambling has been sentenced to two years in jail. Lisa Bloomer also forfeited […]
HARTFORD, Conn. (AP) _ Connecticut Attorney General Richard Blumenthal says he has filed court papers to revoke the pension of former Hartford Mayor Eddie Perez. Blumenthal announced Monday during a news conference that he has […]
Governor Jodi Rell is proposing a series of changes to help reduce the state’s under-funded state pension and retiree health care liabilities. She put the amount of those liabilities at $34 billion – $25 billion […]