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.
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