The state’s pension fund has lost 23 percent of its value since July, but state Treasurer Denise Nappier told lawmakers last week that it still remains in better shape than those in many other states.
Upheaval in the country’s financial markets caused the fund, which provides benefits to more than 160,000 state and municipal workers and retirees, to lose $5.6 billion. The pension fund now totals $19.4 billion.
Despite the losses, Nappier said Connecticut is having no problems meeting its pension payout obligations and that the fund is outperforming long-term expectations.
“The integrity and the soundness of the pension fund remains intact,” Nappier said.
