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CONNECTICUT’S PENSION CRISIS

CONNECTICUT’S PENSION CRISIS

 

Connecticut Pays Pensions as High as $276,000!!!

See Spreadsheet Below

 

 

Connecticut State and Local Pensions are the Highest in the United States !!!

Read CBIA Article Below

 

 

The State’s Pension Plan is Less than 30% Funded!!!

Read State Budget Solutions Below

 

 

 

September 10, 2013 

 

 

From:  The Federation of Connecticut Taxpayer Organizations
Contact:  Susan Kniep, President
Website: http://ctact.org/
Email: fctopresident@aol.com

Telephone: 860-841-803

 

 

 

Obama and lawmakers seize on Russian offer on Syrian weapons

Julian Pecquet - 09/10/13 07:04 AM ET   The Hill

 

A possible deal to avoid a U.S. military strike on Syria emerged unexpectedly Monday when Russia, seizing on comments by Secretary of State John Kerry, called on President Bashar Assad to hand over his chemical weapons.

The dramatic development added to uncertainty over congressional votes on President Obama’s request for authorization of air strikes against Syria, with Republican and Democratic lawmakers saying Russia’s plan was a way to avoid military action and Senate Majority Leader Harry Reid (D-Nev.) delaying a planned procedural vote in the Senate on Wednesday. Continue reading at …… http://thehill.com/homenews/administration/321219-obama-and-lawmakers-seize-on-russian-offer

 

 

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CONNECTICUT’S PENSION CRISIS

 

 

 

State

Actuarial Assets

Market Liability

Funded Ratio

Unfunded Liability

Connecticut

$25,492,957

$102,247,874

25%

$76,754,917

 

 

 

Click here for access to the full spreadsheet.  

Which includes a 50 State Pension Table

Provided by State Budget Solutions

 

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CT's State and Local Pensions Highest in U.S. - Cbia

 

 

August 23, 2013 - Posted by Editor in State Spending

 

 

State and local government employees in Connecticut have the highest average annual pension amount in the United States , says a new study by the U.S. Census Bureau.

 

 

As of 2011, said the agency, Connecticut ’s average annual pension for state- and locally-administered pensions was $35,079. Nationally, the average was $25,135.

 

 

For state employee pensions alone, the gap widens: $37,953 average for Connecticut state retirees, $24,139 average for all other state employee retirees.

 

 

Only a handful of states ( California , New York , Rhode Island , Colorado and Nevada ) joined us over the $30,000 mark for state and local government workers. Continue reading at ….. http://gov.cbia.com/inside_the_capitol/article/cts-state-and-local-pensions-highest-in-u.s

 

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Promises Made, Promises Broken - The Betrayal of Pensioners and ... and Taxpayers

 

by Cory Eucalitto, State Budget Solutions, September 3, 2013

 

http://www.statebudgetsolutions.org/publications/detail/promises-made-promises-broken-the-betrayal-of-pensioners-and-taxpayers

 

Comprehensive research into the funded status of state level defined benefit public pension plans reveals that public employee retirement promises are underfunded by $4.1 trillion. Combined, state public pension plans are just 39 percent funded.

 

States facing a particularly large unfunded liability at a per capita level and as a percentage of their annual gross state product include Illinois, Ohio, New Jersey, Oregon, Connecticut, Nevada, New Mexico, Hawaii, and Alaska.   …….

 

By this measure, the five most poorly funded states are Illinois (24%), Connecticut (25%), Kentucky (27%), and Kansas (29%), along with Mississippi , New Hampshire , and Alaska tied at 30% funded.   Read complete article at ….. http://www.statebudgetsolutions.org/publications/detail/promises-made-promises-broken-the-betrayal-of-pensioners-and-taxpayers

 

 

Download fileDownload the PDF of Promises Made, Promises Broken - The Betrayal of Pensioners and Taxpayers 

 

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Connecticut Pays Pensions as High as $276,000!!!!

In Calendar Year, the State of Connecticut paid 44,216 Retirees pensions totaling $1.4 BILLION!!!  The following link illustrates those who received from $50,000 to the highest pension at $276,364.

Click to View…… http://www.ctact.org\upload\home\StatePensionFinalFinal.xls

 

To learn more about State of CT Employee Pensions

click http://transparency.ct.gov/html/searchPensions.asp.

 

 

Malloy legislative appointees get big pension boost

 

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State Pension Litigation Update, August 2013

State Budget Solutions | by Joe Luppino-Esposito | August 8, 2013

 

In attempts to reign in the costs of pensions, state lawmakers legislate pension reform. Challengers to those reforms often bring suit, alleging violations of state law, contracts, and the Constitution. In this month's update, we include the details of the Detroit bankruptcy filing.

 

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Lessons Learned: States Focus on Rainy Day Funds, Smaller Workforces

 

 

 

Pension liability looms over US states' economies -group

 

 

The Pension Crisis is Worse Than We Thought | Via Meadia