CEA-Retired President William Murray introduced State Treasurer Shawn Wooden, a speaker at today’s CEA-Retired fall conference.
“As you know, many groups out there in the wider world, don’t like unions but they also don’t like pensions. They’re out to cut down pensions and undermine them in whatever way they can,” CEA Executive Director Donald Williams told CEA-Retired members at their annual fall conference this morning.
Luckily Connecticut active and retired teachers understand how important it is to have their voices heard in the political process and turned out in record numbers for last year’s state elections—electing many pro-public education candidates, including State Treasurer Shawn Wooden, one of the speakers at today’s conference.
“Last year we elected a treasurer who successfully fought to reamortize the Connecticut Teachers’ Retirement Fund while preserving pension benefits,” said CEA-Retired President William Murray. Read more
Misconceptions abound when it comes to teachers’ pensions, but today, in a presentation to the Pension Sustainability Commission, an actuary clarified that Connecticut teachers’ pension benefits are actually quite modest.
The Connecticut Pension Sustainability Commission is charged with studying “the feasibility of placing state capital assets in a trust and maximizing those assets for the sole benefit of the state pension system.”
John Garrett, principal and consulting actuary at Cavanaugh Macdonald Consulting, shared findings from the March 2018 report of the Connecticut Teachers’ Retirement System Viability Commission.
Garrett compared Connecticut with 11 other state retirement systems that cover pension benefits to teachers who do not receive social security. “Connecticut has a fairly modest benefit when you look at other non-Social Security covered workforces,” he said. Read more