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Nappier, Malloy divided over how to fix teacher pension fund

State Treasurer Denise L. Nappier warned this week that Gov. Dannel P. Malloy’s recommendation that Connecticut defer and otherwise restructure contributions into the teachers’ pension fund could jeopardize the state’s standing on Wall Street. Continue Reading →

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Analyses show concessions would save $24B over two decades

The tentative concessions framework struck by Gov. Dannel P. Malloy and state employee union leaders would save $4.8 billion over the next five years and $24.1 billion over the next two decades, according to analyses prepared by the administration, Connecticut pension actuaries and its healthcare consultant. Continue Reading →

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Advocates for teachers, towns say voters oppose pension cost shift

The survey, commissioned by the Connecticut Education Association and the Connecticut Conference of Municipalities, found 64 percent of voters would cast ballots against legislators who back such a plan. Continue Reading →

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Brinksmanship at State Capitol over pension deal

Republicans tried Wednesday to scuttle a deal Gov. Dannel P. Malloy struck with state employee unions to avoid spiking pension costs. But the House voted 76 to 72 to ratify the deal, while the Senate followed suit in more dramatic fashion with a tie-breaking vote by Lt. Gov. Nancy Wyman. Continue Reading →

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House Democrats block GOP bid to require votes on labor deals

In the first partisan fight of 2017, Democrats in the House of Representatives blocked a Republican proposal Wednesday that would have ended a longstanding practice of approving state employee contracts without a vote. Continue Reading →

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Wall Street agency gives CT pension deal a ‘credit positive’

Moody’s Investors Service, one of the four major credit rating agencies, labeled the proposal negotiated by Gov. Dannel P. Malloy’s administration and state union leaders as a “credit positive” for Connecticut in the agency’s weekly credit outlook statement. Continue Reading →

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GOP: CT lawmakers must go on record on new pension deal

The fate of Gov. Dannel P. Malloy’s plan to restructure the state employee pension system — which would shift billions of dollars of costs onto future taxpayers — mustn’t be resolved without votes by the House and Senate, according to the top Republicans in both chambers. Continue Reading →

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Malloy, unions strike deal to stretch out spiking CT pension costs

Updated at 3:50 p.m.
Gov. Dannel P. Malloy announced a deal Friday with state employee unions that would allow Connecticut to dodge a fiscal iceberg by holding down annual pension costs otherwise set to spike over the next 16 years. Continue Reading →

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Malloy’s new pension fix is a big departure from his first try

One year after taking office, Gov. Dannel P. Malloy vowed to accelerate payments into the state’s cash-starved pension fund, much as a family might make extra mortgage payments now to lessen balloon payments looming in future years. This week, the governor dramatically altered that strategy. Continue Reading →

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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. Continue Reading →

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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. Continue Reading →

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CT never looked for teacher’s pension beneficiary owed $192K

The state hasn’t looked for five years for a teacher’s pension beneficiary owed $192,000, the state auditors reported Thursday. In a letter to Gov. Dannel P. Malloy, Auditors Robert M. Ward and John C. Geragosian also wrote they fear other beneficiaries have not received funds because of one agency’s longstanding failure to collect sufficient contact information.
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