Education Reform Now wants the state to bill wealthy districts and use some of the money to help poor communities.
Teachers Retirement System
Posted inMoney
CT poised to take $1.6 billion chunk out of pension debt
Connecticut will make more than $1.6 billion in supplemental payments into its cash-starved pension systems this fall.
Posted inMoney
Lembo: Extra pension payments mean big savings now — and down the road
By depositing $1.2 billion extra into its pension funds now, the state hopes to save $2.75 billion over 25 years.
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Surging teacher pension costs will make Lamont’s next budget-balancing act tougher
Gov. Ned Lamont will need an extra $200 million in the next biennial budget to bolster the teachers’ pension fund.
Posted inMoney
Debate not over on sharing teacher pension costs with towns
While municipalities successfully defeated another poroposal to force communities to cover a portion of Connecticut’s contribution to the teachers’ pension fund, local leaders know they remain in the crosshairs — and that a local payment toward this state expense may be inevitable in a few years.
Posted inMoney
Despite committee inaction, tolls and pension cost-sharing proposals remain alive
Two key issues – tolls and teacher pension costs – weren’t voted out of the finance committee this week. But that doesn’t mean either issue is dead.
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Lamont presents $43 billion, two-year plan to legislators
The two-year state budget lays the groundwork for tolls, shifts more pension debt onto future taxpayers, deals another blow to hospitals, but closes a multi-billion dollar shortfall without raising the income tax.
Posted inMoney
Lamont seeks giveback from future state retirees
Gov. Lamont will seek concessions that could potentially reduce benefits to retired workers by more than $300 million per year.
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CT Lottery could smooth spiking teacher pension contributions
Gov. Dannel P. Malloy’s push to smooth out spiking state contributions to the teachers’ pension may hinge on a new proposal to dedicate lottery assets to the cash-starved retirement benefit fund.
Posted inEducation, Money, Politics
Nappier, Malloy divided over how to fix teacher pension fund
State Treasurer Denise L. Nappier warned this week that Gov. Dannel P. Malloy’s recommendation that Connecticut defer and otherwise restructure contributions into the teachers’ pension fund could jeopardize the state’s standing on Wall Street.
Posted inEducation, Money
Malloy will have a plan to smooth spiking teacher pension costs
Gov. Dannel P. Malloy’s administration is developing a proposal to restructure a second spiking pension expense threatening state finances, according to his deputy budget director.
Posted inHealth, Money, Politics
Medicare program fix adds red ink to CT’s finances
To find some of the money to reverse cuts to a popular social services program, the legislature is expected Monday to raid $17.8 million owed to next fiscal year’s state budget — which already is at risk of a significant deficit.
Posted inEducation, Money, Politics
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.
Posted inEducation, Money
New CT budget could shift teacher pension costs onto future taxpayers
If legislators vote on a new state budget Thursday, it may include a complex proposal from Gov. Dannel P. Malloy to restructure skyrocketing contributions to the teachers’ pension program — potentially inflating and then shifting billions of dollars in expenses onto a future generation.
Posted inEducation, Money, Politics
Malloy offers big compromise to end CT budget gridlock
Gov. Dannel P. Malloy has offered a major compromise to end the state budget standoff, scaling back his proposed shift of teacher pension costs to cities and towns by half.