The Connecticut Judicial Department paid out over $1 million in extra pay between 2012 and 2016 for court reporters and monitors to type transcripts for other agencies, and allows those employees to produce work for private parties on state time, according to new state audit.
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Connecticut lowered the discount rate of the teacher’s retirement system from 8.5 percent to 8 percent in 2016, but it still remains higher than most other states. According to NASRA the median discount rate has dropped to 7.5 percent.
The Fitch Files: Connecticut woodworking company becomes victim of national pension crisis, gets sued out of existence
Mark originally wanted a union shop so that J-Con Inc. could do business in neighboring New York and Rhode Island. He contributed toward his employees' pension fund with the carpenters union, along with health benefits and good pay. Little did he know that this would ultimately destroy his business.
DOT pension, healthcare costs grow nearly $30 million in three years as state projects are put on hold
Pension and healthcare costs for employees with the Department of Transportation grew $30 million over three years, increasing operating costs for Connecticut’s beleaguered Special Transportation Fund. According to figures from the State Comptroller’s Office, between 2014 and 2017 state pension contributions increased $21 million, while healthcare costs increased $9 million.
The number of retired state employees receiving six figure pensions jumped by at least 30 percent since 2016 and more than 1,000 percent since 2010. According to a report by the Hartford Courant, there are now “nearly 1,400” retirees who received more than $100,000 in pension payments over the course of 2017.
Despite the suspension of 400 infrastructure projects around the state, Gov. Dannel Malloy’s $100 billion Let’s Go CT initiative is still moving forward, albeit at a slower pace, with $3.7 billion in bonding over the next five years.