Klarides says audit proves state needs to curb benefits

Themis Klarides

Themis KlaridesConnecticut House Republican Leader Themis Klarides says an audit of the state employee pension funds proves the state needs to reduce benefits.

The audit of the State Employee Retirement System by Cavanaugh MacDonald Consulting LLC shows the funding level is only at 35.5 percent of what it should be to live up to the state’s obligation. ┬áThe funding level has dropped from 41.5 percent and the new rate is among the worst of any states in the USA, according to Klarides.

Klarides is calling for worker benefits to be curbed and for lawmakers to consider a Republican proposal that has been on the table for years including:

  • reform of the overtime payment guidelines used by state workers
  • creation of a defined contributiion system for new state employees

“The valuation rate of state employee pensions has hit an all-time low and the unfunded liability grows every day. ┬áThis is not a question of the state putting more money into the account, we must overhaul the entire system before it goes broke,” Klarides said in a statement.

One Comment on “Klarides says audit proves state needs to curb benefits”

  1. Time for the Legislature to do it’s job before there are no jobs. Just can’t keep looking the other way when things get tough. Wake up CT, you need people that get things done, not just lip service.

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