Connecticut Makes Pension Payment on Billions in Liability

Connecticut will make a $61.6 million extra payment on its state employee pension fund liabilities, Gov. Ned Lamont (D) announced Thursday.

The payment would come from the state’s $3 billion rainy day fund, said Melissa McCaw, secretary of the Office of Policy and Management.

“It’s the first time ever we’re making a deposit beyond annual payments,” McCaw added.

Connecticut’s State Employees Retirement System pension fund had assets of just $13 billion in 2018 but had liabilities of $34.2 billion, according to a Sept. 24 report of the federal Bureau of Economic Analysis.

The amount of assets is enough to cover ...