Gov. Dannel P. Malloy’s administration is in negotiations with state employee unions — but only over how to restructure payments Connecticut owes to its cash-starved employee pension system, not any changes in benefits or employee contributions. Continue Reading →
A major Wall Street rating agency warned it might lower Connecticut’s bond rating — pushing up interest costs on capital projects — if the state adopts Gov. Dannel P. Malloy’s plan to restructure contributions to the employee pension fund.
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The state auditors issued a special report Wednesday disclosing a major breakdown in safeguards in the comptroller’s office that could have led to the improper payment of millions of dollars in disability retirement benefits. Continue Reading →