A new report from the conservative American Legislative Exchange Council cites Connecticut as having the state’s worst unfunded public pension situation in the country.
In the study, “Unaccountable and Unaffordable 2016 Unfunded Public Pension Liabilities Near $5.6 Trillion,” authors note that Connecticut has the nation’s worst funded ratio of existing funding to what is promised to public workers at 22.8 percent, which means the state is failing to keep its promise to taxpayers and pensioners.
Connecticut ranked 47th in terms of unfunded liability per capita for public pension plans, according to the study. However, when it comes to the funding ratio, the state fell to last place.
“The state’s failure to address its pension liabilities is a significant contributor to Connecticut’s ongoing budget problems,” the report notes.
