CT poised to pay down $3.6 billion in pension debt

Link: https://ctmirror.org/2022/05/20/ct-poised-to-pay-down-3-6-billion-in-pension-debt/


Connecticut is poised to deposit an extra $3.6 billion in its cash-starved pension funds when the fiscal year closes in June, after tax revenues surged yet again on Friday.

Those supplemental payments would be on top of the $2.9 billion in required contributions Connecticut made this fiscal year to pensions for state employees and municipal teachers. 

Those projections were included Friday in the latest monthly budget estimates from Gov. Ned Lamont’s administration, which also forecast a $3.8 billion surplus for the current fiscal year.

Author(s): Keith Phaneuf

Publication Date: 20 May 2022

Publication Site: CT Mirror