Wait, What? » Pensions

Malloy Takes Bold Step – Proposes Paying for State Pension Fund the Right Way.

jonpelto — Tue, 24 Jan 2012 19:50:01 +0000

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When it comes to putting Connecticut’s fiscal house in order, mark this one as the single most important proposal Governor Dannel Malloy has made since taking office. Imagine having a 30-year mortgage that had relatively low payments for the first twenty years and then massive payments for the last ten. Payments that were so large [...]

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The Truth Hurts…. Rating Agency Down Grades Connecticut to aa3… Now what?

jonpelto — Sat, 21 Jan 2012 15:31:06 +0000

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Tags: Ben Barnes Bond Rating Malloy Pensions State Budget

On Friday, the Wall Street bond rating company, Moody’s Investment Services, lowered their rating of the bonds issued by the State of Connecticut from aa2 to aa3. This is the second drop in the past year and Connecticut’s bonds are now rated with a “negative outlook”. The Malloy Administration’s response was to try to turn [...]

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Lies and Damned Lies….oh and Truth

jonpelto — Sat, 21 Jan 2012 02:50:47 +0000

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Tags: Ben Barnes Malloy Pensions State Budget

I have seen some amazing political statements in my time. I’ve seen lies and even damned lies…. But I have to say I’ve never seen something like what Ben Barnes put out today. Our state is in deep trouble. For a year now I’ve written about these problems and have watched the reaction from people [...]

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Phew: Connecticut Needs to Pay Only $926 million to the State Pension Fund this Year.

jonpelto — Tue, 17 Jan 2012 15:51:07 +0000

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Tags: Ben Barnes Malloy Pensions SEBAC

Stock Market Provides Key to Meeting State’s Pension Goal Background: In February 2011, Governor Malloy announced that in addition to tax increases and budget cuts he would balance the state’s upcoming bi-annual budget with $2 billion in savings from state employees. As one of the loudest critics of the governor’s approach, I’ve been writing about [...]

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FACT CHECK: The Truth about State Employee Pensions:

jonpelto — Thu, 28 Jul 2011 14:22:58 +0000

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Tags: Malloy Pensions State Employee Benefits

(Cross-posted from Pelto’s Point at the New Haven Advocate) “Unsustainable” – Has Become a Political Term of Art Except for the phase “shared sacrifice”, the term “unsustainable” has become the most common piece of political speech in Connecticut. Last check found over 100 news articles in which Governor Malloy has said that Connecticut’s state employee [...]

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The Damn State Employees and Their Big Pensions – Burn ‘um at the Stake!

jonpelto — Sat, 02 Jul 2011 15:26:35 +0000

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Tags: Malloy Pensions State Employees

There is a lot of talk these days about changing the pension system for Connecticut’s state employees. It might be useful for people to know the facts. Is a pension of $19,800 excessive for a person who works 25 years and makes a salary of $60,000? Is a pension of $30,900 excessive for a person [...]

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Just Look at them – The Damn State Employees and their Damn Pensions

jonpelto — Sun, 20 Feb 2011 14:18:07 +0000

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Tags: Budget Pensions

(cross-posted from Pelto’s Point – New Haven Advocate) Listening to the Governor and some elected officials, one of Connecticut’s most significant problems are the excessive pensions state employees receive. Governor Malloy has called for a billion dollars in state employee concessions and one of the items he has highlighted is the need to reform Connecticut’s [...]

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Connecticut’s state pension fund in its worst shape since the state began saving for pension obligations in the mid-1980s.

jonpelto — Tue, 01 Feb 2011 17:02:42 +0000

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Tags: Budget Pensions

There are times when a news article is so good, so complete that nothing more needs to be said, no analysis is needed. This article by Keith Phaneuf is exactly that. I’ve been writing and yelping about this subject a lot over the last few years. This article really nails the problem. This is definitely a must read story. http://ctmirror.org/story/11341/wall-street-taking-closer-look-connecticuts-ailing-pension-fund Connecticut has [...]

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