[GeoffD]

Originally Posted by MrGompers

The real tragedy of this situation is the state has lost the power of compounding because they failed to fund the pensions when the payments were due. That is unforgivable, but I would assume there aren't many math majors, actuaries, or even investment people in the legislature, so how would they have known ? Perhaps they need better advisors.

Wow! That is the most lame excuse I've ever read in my life.

Originally Posted by MrGompers

That data and analysis is from ALEC. They are a "Libertarian" organization and have extreme biases. They are basically against anything and every thing that would help the average citizen.

So how come I don't have a defined benefit pension with 2% per year vesting like all those "average citizens" feeding at the public trough? I think your view of the "average citizen" is very disjointed from reality. The rest of us have to pay for it.

[JayCT]

Originally Posted by GoHuskies

Might be part of the reason why most highlighted residential growth in metro areas like Hartford or Stamford is rentals. People have a vague idea of what the writing on the wall means and prefer to be one lease termination away from fleeing the state.

This actually is partially a national trend that is a product of the recession as well as an underdevelopment of new rental unit for the previous decade or so. Jay

[MrGompers]

Originally Posted by GeoffD

Wow! That is the most lame excuse I've ever read in my life.



So how come I don't have a defined benefit pension with 2% per year vesting like all those "average citizens" feeding at the public trough? I think your view of the "average citizen" is very disjointed from reality. The rest of us have to pay for it.

The short answer is lack of unions is why you don't have a defined benefit pension plan. Companies are just as profitable today (even moreso) than they were 20+years ago.

ALEC et al has worked on you. That's exactly what they want people to think. They want you to be jealous of what other people have, but you should be questioning your employers instead.

You can rattle off any number of CT corporations and look up their financial statements. Three that come to mind are Aetna, Cigna, Black and Decker. Their net income (which is after taxes) are 1.2 billion, 1.44 billion, and 740 million. Hard to argue these companies can't afford pensions.

There;s no 2% yearly vesting unless you reach 10 years of service. If a worker leaves before that any benefits that accrued go back into the pot. Although I think under the pension rules if a person gets rehired in state Govt they would receive credit for the previous vestment.

Feeling sorry for billion dollar corporations is new to me. I feel sorry for the people making $12 an hour.

[LeviDunn]

It's immoral to rob future generations by saddling them with liabilities to fund the current generation's retirement. If your job is on the tax-payer dole, you should not be promised anything in the future. Do away with all public pensions and instead pay them higher wages and they can choose to invest if they want to.

[kidyankee764]

Originally Posted by LeviDunn

It's immoral to rob future generations by saddling them with liabilities to fund the current generation's retirement. If your job is on the tax-payer dole, you should not be promised anything in the future. Do away with all public pensions and instead pay them higher wages and they can choose to invest if they want to.

I agree that pension liabilities are what’s bankrupting the state, but you have to grandfather those in who are already promised. They’ve been paying into it throughout their careers. That teacher or cop relied on the promise of a pension so snagging it from them 20-25 years into a career is arguable more immoral than what’s happening to future generations.

[BobNJ1960]

Originally Posted by kidyankee764

I agree that pension liabilities are what’s bankrupting the state, but you have to grandfather those in who are already promised. They’ve been paying into it throughout their careers. That teacher or cop relied on the promise of a pension so snagging it from them 20-25 years into a career is arguable more immoral than what’s happening to future generations.

What we should be doing is capping the pension at present vested value, and switching to a 401k match system concurrently.

With new staff solely getting 401K match.

[BPt111]

NBC went to North Carolina to meet with former CT resident to ask them why they flee the state.

"When Beth Console and her husband made the decision to leave South Windsor for Concord, North Carolina, they joined nearly 30,000 other people who are leaving Connecticut each year.


https://www.nbcconnecticut.com/news/...FlowFB_CTBrand

[BPt111]

General Dynamics Electric Boat will receive up to $83 million in state aid to help it add more than 1,881 new jobs over the next 17 years


"The deal would allow for more than $800 million in capital investments in the state over the next 17 years and more than double spending on in-state suppliers, which the governor’s office says are located in 102 Connecticut cities and towns."

"The Connecticut Department of Economic and Community Development will be providing a $35 million loan for machinery and equipment through Governor Malloy’s First Five Plus Program, which offers loan forgiveness based on supply chain spend and employment, and up to $20 million from Connecticut Innovations in sales and use tax exemptions for capital and new construction on the Electric Boat campus, according to a news release from the governor’s office."

https://www.nbcconnecticut.com/news/...481351781.html

[JayCT]

Originally Posted by BPt111

General Dynamics Electric Boat will receive up to $83 million in state aid to help it add more than 1,881 new jobs over the next 17 years


"The deal would allow for more than $800 million in capital investments in the state over the next 17 years and more than double spending on in-state suppliers, which the governor’s office says are located in 102 Connecticut cities and towns."

"The Connecticut Department of Economic and Community Development will be providing a $35 million loan for machinery and equipment through Governor Malloy’s First Five Plus Program, which offers loan forgiveness based on supply chain spend and employment, and up to $20 million from Connecticut Innovations in sales and use tax exemptions for capital and new construction on the Electric Boat campus, according to a news release from the governor’s office."

https://www.nbcconnecticut.com/news/...481351781.html

This is really good news. Jay

[ericvon.zipper]

Yep, According to Van Lines Inc annual report .CT was the 4th most moved out of State last year. And thats without the tolls.