Connecticut Reports Sharp Gains In Pension Funding

Connecticut leaders say new reports show the state’s pension funds are gaining ground after years of underfunding. The State Employees Retirement System added more than $2.3 billion, pushing its funded ratio to nearly 60 percent. The teachers’ fund grew by more than $1.6 billion and is now almost 64 percent funded. Officials credit tighter budget controls and extra payments that have topped $10 billion since 2021. Analysts say those moves will save taxpayers an estimated $18 billion over the next 20 years.