Insights on Connecticut's Pension Payouts in 2023 and State Retirees' Income Trends
Sunday, 14 July 2024, 10:02
Connecticut Pension Payouts Overview
The total amount paid in pensions in 2023 by Connecticut amounted to $2.65 billion.
State Retirees' Income
Significant numbers of retired state employees are currently receiving six-figure pensions.
- Growing Numbers: The count of retirees with six-figure pensions is escalating annually.
- Cost-of-Living Increases: Retirees' income is subject to yearly adjustments based on the cost of living.
This trend presents a financial challenge for the state, impacting its efforts to control spending and manage its budget effectively.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.