According to the Journal Inquirer, state lawmakers chose not to vote against the governor’s plan.
The new plan requires the state to set aside more money to avoid the projected $4.5 billion year payment into the state employees pension fund 20 years from now.
Connecticut’s pension fund currently has less than 48% of the money it needs, ranking it among the worse funds in the nation. Governor Malloy expects the plan to be 80% funded by 2025. (See “Conn. Governor Proposes Increase to State’s Pension Payment”).
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