Connecticut’s cash-starved pension funds for state employees and municipal teachers got a big boost last fiscal year, state Treasurer Denise L. Nappier reported Monday. Continue Reading →
Nappier: CT pension investments earned big returns
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Denise L. Nappier
Recent Posts
Nappier pitches dedicating share of income tax to control borrowing costs
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After watching its standing fall on Wall Street in recent years, Connecticut may have to pledge a portion of its income tax receipts when borrowing for future capital projects. State Treasurer Denise L. Nappier unveiled a program Monday she says will help control borrowing costs and enable the state to rebuild its depleted reserves. Continue Reading →
Filed under: Budget/Economy, bonding, Denise L. Nappier, general obligation bonds, new credit bonds, Wall Street
CT faces legal roadblock to easing rising teacher pension costs
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While state government continues to explore spreading its pension debt among future generations, Connecticut apparently won’t have that option when it comes to benefits owed its public school teachers. Continue Reading →
Filed under: Budget/Economy, Labor, Connecticut state budget, day Pitney, Denise L. Nappier, State Employees Retirement System pensions, Teachers Retirement System
New CT budget contributes to credit downgrades from Wall Street
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The new state budget’s ability to mitigate longstanding fiscal problems got poor marks Thursday on Wall Street as two of the four major rating agencies downgraded Connecticut’s credit ranking — probably boosting borrowing costs in the future. Continue Reading →
Filed under: Budget/Economy, Politics, bonding, Budget2016, Connecticut state budget, Denise L. Nappier, Fitch Ratings Inc., Kroll
Most Wall Street agencies have ‘negative outlook’ on CT finances
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Three of Wall Street’s four major credit rating agencies have assigned a “negative outlook” to Connecticut’s bond rating — a warning that the state could face a downgrade, and higher borrowing costs in the next year or two. Continue Reading →
Filed under: Budget/Economy, bonding, Denise L. Nappier, Fitch Ratings Service, Kroll Bond Rating, Moody's Investors Service, Standard & Poor's, Wall Street
Nappier: Malloy’s budget doesn’t cover state’s credit card bill
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Gov. Dannel P. Malloy’s new budget proposal could be $50 million to $74 million out of balance if state Treasurer Denise L. Nappier and the legislature’s nonpartisan analysts are correct about what Connecticut owes on its credit card. Continue Reading →
Filed under: Budget/Economy, bond premiums, Budget2016, Connecticut state budget, debt service, Denise L. Nappier, Wall Street
Borrowing to pay off debt could poke new holes in CT’s budget
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The state’s controversial practice of borrowing to pay off debt now threatens to poke new holes in the budget — a small one this fiscal year and a larger one after June — just a few weeks after lawmakers and Gov. Dannel P. Malloy wrapped a special session to balance the books. Continue Reading →
Filed under: Budget/Economy, Politics, bond premiums, Connecticut state budget, Denise L. Nappier
Treasurer offers alternative vision for state pension fix
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Connecticut faces sharply rising pension costs over the next two decades — but nearly $2 billion less at its worst point than the nightmare scenario Gov. Dannel P. Malloy outlined two months ago, according to a new analysis Wednesday from state Treasurer Denise L. Nappier. Continue Reading →
Filed under: Budget/Economy, Dannel P. Malloy, Denise L. Nappier, pensions, state employees retirement system
Treasurer raises more concerns about Malloy’s plan for pensions
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While Gov. Dannel P. Malloy intensified his pitch Tuesday to restructure Connecticut’s troubled pension funds, state Treasurer Denise L. Nappier repeated earlier fiscal concerns — and raised new legal questions. The treasurer also said she would offer a “less radical” alternative next month to the governor’s plans for pensions involving state employees and public school teachers. Continue Reading →
Filed under: Budget/Economy, Politics, Connecticut state budget, Dannel P. Malloy, Denise L. Nappier, pensions, state employees retirement system, Teachers Retirement Fund
Nappier: Find a ‘less radical’ pension fix than Malloy’s plan
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State Treasurer Denise L. Nappier raised strong concerns Friday about Gov. Dannel P. Malloy’s plan to defer billions in contributions to the state employees’ pension until 2033.
Continue Reading →
Filed under: Budget/Economy, Politics, Denise L. Nappier, pensions, state employees retirement system
Treasurer candidates will finally debate — just before election day
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After months of sparring over when, how often and if they would debate, the major party candidates for state treasurer have agreed to participate in a forum to be televised two days before election day. Continue Reading →
Filed under: Politics, Denise L. Nappier, pension, state treasurer, Tim Herbst, unfunded liability
Herbst won’t face primary for GOP nomination for state treasurer
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There won’t be a Republican primary for the nomination for state treasurer. Ridgefield investment executive Bob Eick had decided not to force a primary, leaving the GOP nomination to Trumbull First Selectman Tim Herbst. Continue Reading →
Filed under: Budget/Economy, Politics, Bob Eick, Denise L. Nappier, state treasurer, Timothy Herbst
Officials are a getting better handle on Connecticut’s checkbook
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After dipping frequently into its capital programs for more than two years to pay its bills, state government may have turned a corner with its cash flow troubles. The latest monthly report from state Treasurer Denise L. Nappier, submitted this week and covering July, shows a third consecutive month during which Connecticut paid its bills without having to employ any controversial transfers from capital projects. Continue Reading →