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Posted inMoney, Politics

Auditors: Workers’ comp officials overcharged insurers to rebuild fund

The state improperly charged Connecticut insurance companies and small businesses $450,000 last fiscal year to recoup a legislative raid on the Workers’ Compensation Administration Fund, the state auditors reported Monday.
But in a written response to the Auditors John C. Geragosian and Robert M. Ward, the commission insisted the assessment was necessary to ensure it had sufficient cash on hand to meet its obligations.

Posted inMoney, Politics

Malloy, Cafero displeased with pension gaffe explanation

Gov. Dannel P. Malloy said Friday he’s not satisfied with one agency’s explanation about how it failed for five years to deliver – or even attempt to contact – a teacher’s pension beneficiary owed almost $200,000. And the top Republican in the House of Representatives said it might be time for an independent review of the state Teachers’ Retirement Board.