2State employee retirement accounts get 160% match

The rich benefits of state-employee pension plans are well known. Many critics suggest they should be changed from defined-benefit to defined-contribution plans. Connecticut already has an optional defined-contribution plan, similar to a 401(k), higher education employees can choose, forgoing their pensions. The Alternate Retirement Program is designed to give employees additional flexibility and portability, while ...

4Legislature considers limits on employer free speech

The Connecticut General Assembly is considering a bill that would prevent employers from talking about religious or political topics with their employees, the two forms of speech most protected by the First Amendment. The labor and public employees committee has already approved the bill. It is awaiting action by the House and Senate. “This content-based ...

1CPAs: Connecticut is already bankrupt

Connecticut’s accountants have noticed an unhappy pattern. The state is: 50th in debt per person 48th in debt as a share of personal income 49th in funding of pensions 49th in amount of working capital The Connecticut Society of Certified Public Accountants is running a campaign, called Fix Our Future, to raise awareness of Connecticut’s ...

2State snags $20 million from UConn malpractice fund

The University of Connecticut Health Center malpractice account is underfunded with only enough money to cover one-third of the estimated claims against the state-owned hospital. Two years ago, this underfunding would have been illegal. The state required the health center to deposit money in the account on an actuarial basis. But then the state needed ...

2SustiNet to cost at least $62 million while 2010 change will save $286 million

SustiNet, the ambitious state plan to bring everyone with state-purchased insurance under one umbrella organization, will cost at least $62 million, according to a study funded by the state’s insurance companies. The report, completed by Hay Group of Arlington, Virginia, uses the SustiNet board’s final report to evaluate the costs of the proposed changes, including ...