CEA supports sensible ways of assisting the state in its efforts to make up for decades of underfunding teachers’ retirement, including the governor and treasurer’s plan to smooth out the state’s payments to the fund over a longer period of time and lower the investment earning assumption to a more realistic rate. Teachers have consistently paid their fair share into the fund—while the state has not—and teachers had their payments increase nearly 20 percent last year.
However, we oppose any teacher retirement cost shift that transfers millions in costs from the state to our cities and towns, putting additional financial strain on taxpayers and pressure on already tight school budgets. The plan to shift the cost of teacher retirement contributions onto our cities and towns didn’t sit well with Connecticut taxpayers, legislators, and municipalities in 2017—because it placed additional financial burdens on cities and towns and property owners—and it doesn’t sit well with them today. Read more