While legislative leaders were uncharacteristically coy following Monday’s budget negotiations, Gov. Dannel P. Malloy made it clear lawmakers are running out of time if they want to play a role in balancing state finances.
state employees retirement system
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Lembo says he’s developing an alternative state pension fix
State Comptroller Kevin P. Lembo said Tuesday he is developing an alternative plan to restructure Connecticut’s payments into the cash-starved pension fund for state employees.
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Treasurer raises more concerns about Malloy’s plan for pensions
While Gov. Dannel P. Malloy intensified his pitch Tuesday to restructure Connecticut’s troubled pension funds, state Treasurer Denise L. Nappier repeated earlier fiscal concerns — and raised new legal questions. The treasurer also said she would offer a “less radical” alternative next month to the governor’s plans for pensions involving state employees and public school teachers.
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Nappier: Find a ‘less radical’ pension fix than Malloy’s plan
State Treasurer Denise L. Nappier raised strong concerns Friday about Gov. Dannel P. Malloy’s plan to defer billions in contributions to the state employees’ pension until 2033.
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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.
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Malloy calls for big change in pension financing, modest business tax cuts
EAST HARTFORD — Gov. Dannel P. Malloy outlined Wednesday a sweeping plan to overhaul state government’s pension system, pushing some costs off for a decade and a half to control spiking costs that he argued could drive up taxes and drain vital programs. He also proposed modest cuts in business taxes and a cut of 500 state workers.
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Connecticut paying today for pension sins of the past
As legislators and others look closely at the cost of state employee salaries and benefits, one crucial factor often gets little or no attention: The overwhelming bulk of costs Connecticut faces today to support pension programs for state employees and public school teachers is from cleaning up problems caused years – and in many cases decades – ago.
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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.
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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.
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Nappier threatened to warn investors of CT pension crisis
State Treasurer Denise L. Nappier threatened last year to warn Connecticut bond investors about legal problems that still leave the state’s pension system at risk of federal disqualification, according to a letter obtained this week by The Mirror.
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Auditors: State fails to safeguard millions in disability benefits
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.