CT used billions of budget surplus dollars to pay down pension debt, freeing up $440 million annually to use for other programs.
pension debt
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CT poised to take $1.6 billion chunk out of pension debt
Connecticut will make more than $1.6 billion in supplemental payments into its cash-starved pension systems this fall.
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Surging teacher pension costs will make Lamont’s next budget-balancing act tougher
Gov. Ned Lamont will need an extra $200 million in the next biennial budget to bolster the teachers’ pension fund.
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CT maxes out budget reserve as coffers approach $3.1 billion
The projections, much rosier than initially predicted, sparked renewed calls from lawmakers for more state spending to combat the pandemic.
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Best of 2019: Lamont’s pension shift would leave CT’s children deep in debt
Faced with another huge deficit, Lamont and Democratic lawmakers are weighing whether to shift billions of dollars in pension debt onto the next generation of taxpayers.
Posted inMoney
Lamont’s pension shift would leave CT’s children deep in debt
Faced with another huge deficit, Lamont and Democratic lawmakers are weighing whether to shift billions of dollars in pension debt onto the next generation of taxpayers.