Posted inCT Viewpoints

Connecticut’s pension problems come from over-promising, not underfunding

Based on a new study by Wirepoints released in June, Connecticut once again makes the rogue’s gallery of pensions for state employees. Most analyses of pensions focus on the unfunded liability – amounts due for which no funds have been provided.  This type of analysis leads to the logical conclusion that more funding – more taxpayer dollars – is required to close the funding gap. Connecticut’s current governor and legislature have indeed been very good at raising taxes – the largest increases in our history over the last few years – but still unfunded pension obligations continue to grow.