Brookings Institution: Financing State and Local Pension Obligations: Issues and Options

Many states and municipalities are struggling to fund defined benefit pension plans for their employees. Between 2009 and 2013, in order to improve their pension status, almost every state implemented some combination of lower benefit accruals and higher employer or employee contributions. Numerous cities made changes as well for similar reasons.

View the pdf: Brookings Institution: Financing State and Local Pension Obligations: Issues and Options

The Hartford Courant: Those Pesky Trust Funds

Attorney General Richard Blumenthal had egg on his face when his annual disclosure statements to the State Ethics Commission showed that two minor children of Mr. Blumenthal had thousands of dollars worth of tobacco stocks in their names in family trust accounts for several years. The accounts are managed by the attorney general’s father, Martin Blumenthal, who purchased the tobacco stocks for his grandsons.

 

Although the stocks have since been sold, the situation is embarrassing because Richard Blumenthal is a leading crusader against tobacco companies. He has filed a lawsuit against them to recover Medicaid costs attributed to tobacco-related illnesses. He has pushed state Treasurer Christopher B. Burnham to sell the nearly $100 million in tobacco-related investments held by the state pension fund.