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CT Mirror

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Posted inMoney

Unions tell Lamont they won’t forgo raises to spare the rich from a tax hike

Avatar photo by Keith M. Phaneuf February 11, 2021 @ 12:38 pmAugust 1, 2022 @ 4:09 pm

The budget proposal saves $140 million by assuming no raises for bargaining units with contracts currently in negotiations.

Posted inMoney

Future payment scheme takes a heavy present toll on state pension fund

Avatar photo by Keith M. Phaneuf January 5, 2017 @ 2:00 pmMarch 4, 2022 @ 11:04 pm

The latest valuation of Connecticut’s state employee pension fund, which assumes the plan pending before the legislature would be ratified, shows it would push the fund into its worst fiscal shape in three decades.

Posted inMoney

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

Avatar photo by Keith M. Phaneuf October 5, 2016 @ 3:39 pmMarch 4, 2022 @ 10:59 pm

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.

Posted inMoney

S&P warns Malloy’s pension plan could cause bond rating cut

Avatar photo by Keith M. Phaneuf December 16, 2015 @ 11:47 amMarch 4, 2022 @ 10:48 pm

A major Wall Street rating agency warned it might lower Connecticut’s bond rating — pushing up interest costs on capital projects — if the state adopts Gov. Dannel P. Malloy’s plan to restructure contributions to the employee pension fund.

Posted inMoney

Auditors: State fails to safeguard millions in disability benefits

Avatar photo by Keith M. Phaneuf June 17, 2015 @ 1:35 pmJuly 11, 2022 @ 12:52 pm

The state auditors issued a special report Wednesday disclosing a major breakdown in safeguards in the comptroller’s office that could have led to the improper payment of millions of dollars in disability retirement benefits.

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