Dan Haar – Hartford Courant
The pension savings would total $11.9 billion over 30 years, starting with a cut of $259 million in the coming year. And it would turn a $20.7 billion unfunded liability — one of the main millstones strangling the state economy — into a $1.5 billion surplus.
The savings calculations, from Segal Consulting on the health side and Cavanaugh Macdonald on the pension side, were provided by the state Office of Policy and Management at my request. They do not include some significant changes that are part of the concession deal, such as limits on how much overtime can be used to calculate pensions and higher premiums and payments for retirees not yet on Medicare.