State Comptroller Kevin P. Lembo unveiled a detailed plan Thursday to help Connecticut dodge a fiscal iceberg nearly two decades from now by capping its annual pension costs below $2.3 billion through 2033.
Comptroller Kevin P. Lembo
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Lembo says Wall Street, other factors, could strain budget
Though the new state budget is just two months old, Connecticut’s chief fiscal watchdog already is warning about several problems that could push state finances into the red.
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Lembo unveils plan to end huge backlog in state pension audits
State Comptroller Kevin P. Lembo’s office announced Thursday that a huge, decades-old backlog in finalizing state pensions should finally be alleviated over the next 18 months. And Lembo said a new automated system also would make it easier for state workers to research their future benefits.
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CT reaches tentative deal with unions on disability pay controversy
Negotiators for the state and its employee unions have reached a tentative agreement that could resolve a long-running controversy over state disability pension payments, the state’s chief labor negotiator said Thursday.
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Whistleblower suit: Disability pension system corrupt
A state whistleblower and former attorney for Connecticut’s retirement systems has filed a lawsuit alleging corruption and malfeasance in the handling of millions of dollars in disability pension benefits. The lawsuit expands upon concerns raised last week by the state’s auditors and alleges that mishandling has put the state’s retirement systems at risk of losing federal tax law protection.
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Malloy administration says it’s negotiating to fix disability pay controversy
A representative of Gov. Dannel P. Malloy’s administration told state retirement officials Thursday that the administration is negotiating with employee unions and hopes to soon resolve a controversy involving millions of dollars in disability benefit payments.
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Auditors: State fails to safeguard millions in disability benefits
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.
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Lembo: Time to fix worsening state budget deficit is now
State Comptroller Kevin P. Lembo agreed Wednesday with nonpartisan analysts that the budget deficit is worse than Gov. Dannel P. Malloy administration is projecting. But while Lembo also urged the governor and legislature “proceed without delay” to reduce the shortfall, his $172.8 million deficit forecast falls just short of the level that would compel the governor to prepare a deficit-mitigation plan.
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GOP says Lembo ignored deficit to shield Malloy
Connecticut’s budget debate boiled over late Tuesday as the legislature’s top Republicans charged that Comptroller Kevin P. Lembo’s political affiliation has trumped his fiscal integrity. Sen. Len Fasano and Rep. Themis Klarides accused Connecticut’s chief fiscal watchdog of ignoring red ink to help Gov. Dannel P. Malloy – a fellow Democrat – save face.
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Lembo backs Malloy’s assessment of smaller CT deficit
State Comptroller Kevin P. Lembo gave Gov. Dannel P. Malloy a big vote of fiscal confidence Monday, certifying that Connecticut’s $89.4 budget shortfall is well below the emergency level of one percent, or $174.6 million.
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Lembo proposes overhaul of state government’s savings habits
Still struggling to pay its debt from the last recession, Connecticut might have avoided that emergency borrowing – and have double its current reserves – had it followed a new savings strategy unveiled Tuesday by Comptroller Kevin P. Lembo.
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Lembo wants state to save more for those rainy days
Comptroller Kevin P. Lembo intends to change state government’s saving habits with a new reserve system that takes into account Connecticut’s lucrative-yet-volatile relationship with Wall Street.
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Lembo reports CT budget deficit shrinks to $32M
The state budget deficit shrank modestly over the past month to $32 million, Comptroller Kevin P. Lembo reported Friday. But the state’s chief fiscal watchdog also noted that the deficit would have been larger were the budget not bolstered somewhat by borrowing that has become increasingly controversial in recent years.
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Lembo confirms CT budget is $45M in the red after governor’s cuts
After applying Gov. Dannel P. Malloy’s recent emergency budget cuts, state finances are on pace to finish nearly $45 million in deficit, Comptroller Kevin P. Lembo reported Monday.
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Malloy boldly projects perfection in last budget update before election
It’s came as no surprise this week when Gov. Dannel P. Malloy’s administration reported the state budget was in balance. What was far more surprising, though, was the added assertion there are no signs of cost-overruns in any of the dozens of agencies supported by this year’s $19 billion budget.