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  • Auditors of Public Accounts' Reports on State Financial Operations - State Treasurer

    Annual report from Connecticut's Auditors of Public Accounts looking at "financial statements and certain other information of the Treasurer of the State of Connecticut as they pertain to the central accounting of state financial operations."

  • Forensics and the Future of a Connecticut Pension Plan

    This issue brief, based on a November 2015 comprehensive report from researchers at the Center for Retirement Research at Boston College, examines Connecticut's State Employees Retirement System (SERS) and the State's significant unfunded liabilities associated with the system. Along with providing a brief history of funding for SERS and offering alternatives meant to shore up the system's finances and improve the overall flexibility of Connecticut's budget, the issue brief examines three major factors that contributed to SERS' unfunded liability. These factors include: 1) legacy costs from benefits promised before the systems were pre-funded; 2) inadequate contributions once the State decided to pre-fund; and 3) low investment returns relative to the assumed return since 2000.

  • Final Report on Connecticut's State Employees Retirement System and Teachers' Retirement System

    A comprehensive report, from researchers at the Center for Retirement Research at Boston College, that examines the fiscal health of Connecticut's two largest public sector retirement systems: the State Employees Retirement System (SERS) and the Teachers' Retirement System (TRS). In addition to projecting the systems' finances going forward and presenting "alternatives to shore up the systems' finances and improve budget flexibility," the report, which was requested by the State of Connecticut, looks at the State's unfunded liabilities for both systems and the factors that have caused those unfunded liabilities to increase significantly over the years. The report finds "[t]hree factors underlie the current unfunded liability of SERS and TRS: 1) legacy costs from benefits promised before the systems were pre-funded; 2) inadequate contributions once the State decided to pre-fund; and 3) low investment returns relative to the assumed return since 2000."

  • OLR Research Report: State Budget, Debt, and Long-term Obligations

    Research report from the Connecticut General Assembly's nonpartisan Office of Legislative Research that provides estimates of the state's total unfunded long-term obligations as well as data on each of the following from 1989 to 2009: 1) total General Fund appropriations, 2) general obligation bond authorizations, and 3) debt service expenditures in both dollars and as a percentage of the budget.