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A new report by the Pew Center on the States finds that while all but four states have underfunded retiree benefits, CT is among the worst. We are one of eight states with over one third of our liability unfunded. In 2008 CT’s pension liabilities totaled $41.3 billion, but we had only $25.45 billion in assets and health care and other benefits are 62% of the retirement funding shortfall. This doesn’t count last year’s early retirements which have significantly added to that liability. Pew has rated our health care and benefits fund as needing improvement but our pension fund earned their lowest rating – serious concerns.
Ellen Andrews