Teachers Retirement System

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Malloy would cut local aid deeply to offset eroding CT tax receipts

Gov. Dannel P. Malloy has recommended more than $700 million in cuts to municipal aid to help compensate for a $1.5 billion projected decline in state income tax receipts over the next two years. Continue Reading →

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Coventry town manager Elsesser: Connecticut should consider the commercial activities tax

John A. Elsesser, longtime Coventry town manager, has been one of the leading figures in municipal government for nearly four decades. He understands the varied and intensifying fiscal pressures facing Connecticut and its municipalities, recognizes the need to raise revenue; and sees one possible way to do it fairly — a commercial activities tax. Continue Reading →

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No one wants a share of CT’s teacher pension bill

Municipalities and hospitals both fear the new cost burdens they would assume in Gov. Dannel P. Malloy’s budget would grow quickly as state retirement benefit costs surge in the coming years. Continue Reading →

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Malloy would bill towns for teachers’ pensions, cut middle-class tax credit

Gov. Dannel P. Malloy said Friday his proposed budget would shift $400 million, nearly one-third of the cost of municipal school teachers’ pensions, onto cities and towns next fiscal year — a move that would hit the state’s wealthiest communities the hardest. Continue Reading →

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