pensions

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Off the main stage, Griebel pitches his deficit solution

Independent gubernatorial candidate Oz Griebel, who has struggled to attract financial and political support, told reporters Thursday that he would empty the Rainy Day Fund and suspend contributions to the state’s  underfunded pension system to help close a huge, post-election state budget deficit. Continue Reading →

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Malloy: Time to stretch out spiking teacher pension costs

Gov. Dannel P. Malloy has called on state lawmakers to restructure Connecticut’s contributions into its cash-starved teacher pension fund, deferring some expenses for decades but mitigating huge, projected cost spikes in the coming 15 years. Continue Reading →

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Malloy says CT must reverse a culture of postponing hard choices

The future of Connecticut’s finances, transportation network and general well-being hinges largely on government — and the legislature in particular — reversing a long-standing culture of postponing hard choices, Gov. Dannel P. Malloy told Hartford area business leaders Friday. Continue Reading →

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Malloy steps up attack on GOP’s pension reforms

Gov. Dannel P. Malloy has repeatedly attacked a linchpin of the Republican budget plan on legal grounds, arguing that unilaterally trimming pension benefits in 2027 to save millions now is doomed to failure in court. On Tuesday, in an effort to influence bipartisan budget talks, he said the GOP’s math doesn’t work, either. Continue Reading →

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Malloy would bill towns for teachers’ pensions, cut middle-class tax credit

Gov. Dannel P. Malloy said Friday his proposed budget would shift $400 million, nearly one-third of the cost of municipal school teachers’ pensions, onto cities and towns next fiscal year — a move that would hit the state’s wealthiest communities the hardest. Continue Reading →

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Teacher pension costs to surge, widen hole in next state budget

State spending on retired teachers’ pensions is set to surge $282.7 million next fiscal year – a 28 percent increase the state is obligated to fund and is likely to worsen budget deficit projections for 2016-17 by $47 million. Continue Reading →

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Malloy in talks with state unions to restructure payments owed pension fund

Gov. Dannel P. Malloy’s administration is in negotiations with state employee unions — but only over how to restructure payments Connecticut owes to its cash-starved employee pension system, not any changes in benefits or employee contributions. Continue Reading →

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