Despite having a relatively modest emergency budget reserve right now, Connecticut’s saving strategy is better than those in most states, according to a new study by Pew Charitable Trusts.
Pew Charitable Trusts
Posted inMoney
CT still lags most states in saving for public-sector pensions
Connecticut had enough assets in 2013 to cover just 48 percent of the long-term pension obligations owed to state employees and public school teachers.
Posted inMoney
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.
Posted inMoney, Politics
Pew study: States’ reserves left them only half prepared for Great Recession
Connecticut was far from the only state whose fiscal reserves weren’t enough to withstand The Great Recession, according to a new report from the Pew Charitable Trusts. The new study recommends several steps to help states better prepare for economic downturns – including proposals Connecticut’s legislature has resisted in the past.