Saturday, May 25, 2024

CT Paying Down Pension Debt

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State Representative Joe Gresko, (D)
121st Connecticut House District

Dear Neighbor,

Recently, Connecticut transferred more than $1.3 billion to pay down its long-term pension debt.

Since the legislature enacted the state’s “fiscal guardrails” in 2017, more than $7 billion in excess contributions captured from volatile revenue sources have been made to pay down pension debt, resulting in far-reaching savings for Connecticut taxpayers.

Future generations will save more than $600 million per year over the next 25 years while supporting retirement benefits for teachers, state troopers, nurses, correction officers, and more.

As always, if I can be of any assistance, please feel free to contact my office at (860) 240-8585 or email me directly at Joseph.Gresko@cga.ct.gov.

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