Aetna assured Connecticut lawmakers that it will leave most of its employee workforce in Hartford and would only move its top executives to its new location in New York City. But even the loss of the top five executives at the insurance giant will cost Connecticut millions in lost tax revenue.
The five top executives, including CEO Mark Bertolini, earned a combined $49.2 million in 2016, according to Morningstar, a stock-trading and investment research company.read more
A state employee with the Department of Developmental Services was placed on paid administrative leave for 69 weeks pending an investigation and collected $81,500 during that time, according to a report from state auditors.read more
Connecticut’s top union official wrote a letter to state employees asking them to approve a concession deal negotiated with Gov. Dannel Malloy and warned of “projected budget deficits in the billions.”
In a letter to state union members, AFL-CIO President Lori Pelletier told union members they could secure their benefits until 2027 and gain four years of layoff protections under the concessions agreement.read more
As a student of economics at the University of Connecticut, Luc Dang, observed a problem that few others perceived – food waste in the university’s eight different kitchens that serve the 31,000 students at Connecticut’s flagship public university.read more
Despite being rejected by the state appropriations committee and denounced by municipal leaders across the state, Gov. Dannel Malloy’s plan to transfer one-third of teacher pension costs onto towns and cities is still being considered during budget negotiations.
However, during a June 22 press conference, House Speaker Joe Aresimowicz, D-Berlin, and House Majority Leader Matthew Ritter, D-Hartford, floated the idea of raising the state sales tax to 6.99 percent and using the increased funds to help municipalities pay for teacher pensions.read more
In an effort to deal with the skyrocketing cost of teacher pensions, Gov. Dannel Malloy has proposed shifting one-third the cost of the pensions onto towns, a move that will likely drive up property taxes as municipalities scramble to come up with $408 million in 2018.
Michigan, on the other hand, has taken step in the opposite direction.read more
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The Yankee Institute for Public Policy Studies is a research and citizen education organization founded in 1984 under section 501(c)(3) of the Internal Revenue Service code. As one of America’s oldest state-based think tanks, Yankee develops and advocates for free market, limited government public policy solutions in Connecticut.