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Pension Academy: An Introduction to Public Pensions
January 11 @ 9:00 am - 3:30 pm
The Connecticut School Finance Project and the League of Women Voters of Connecticut are proud to present Connecticut’s first Pension Academy on Friday, January 11 at the State Capitol.
The Pension Academy is a daylong, nonpartisan event dedicated to examining the State of Connecticut’s unfunded pension liabilities and their impacts on the state budget, while learning about potential ways policymakers can improve the financial viability of Connecticut’s public pension systems and address some of the looming financial challenges facing the state. Open to state and local policymakers as well as the general public, the Pension Academy will feature some of the nation’s preeminent experts on public pension design and funding.
What is the purpose of the Pension Academy?
Pensions are a key benefit for Connecticut state employees and public school teachers. However, for a variety of reasons, Connecticut’s two largest state pension systems — the State Employees Retirement System (SERS) and the Teachers’ Retirement System (TRS) — have tens of billions of dollars in unfunded liabilities, which pose difficult, long-term financial challenges to the State of Connecticut.
With one of the highest pension obligations per capita of any state, the State of Connecticut’s Annually Required Contributions to SERS and TRS now comprise a quarter of the state budget. In fact, since FY 2000, Connecticut’s contributions to SERS and TRS have increased by $742 million (239%) and $974 million (328%), respectively, and are projected to increase over the next decade in order for the State to make good on its promises to retirees and current employees.
The Pension Academy is intended to not only shed light on Connecticut’s growing pension costs and funding challenges, but to provide policymakers and the public with an awareness and an understanding of potential paths forward.
By bringing together national experts on public pensions to discuss pension system designs, reforms, and best practices, the mission of the Pension Academy is not to simply add to the ongoing conversations about Connecticut’s pension funding crises, but to equip policymakers and their constituents with the tools, resources, and knowledge needed to turn those conversations into constructive action.
Who can attend the Pension Academy?
The Pension Academy is open to everyone. Although not required, registration is highly encouraged to ensure all attendees have a seat for the event and are able to comfortably enjoy the day’s presentations and panel.
What are the parking options for the Pension Academy?
There is extremely limited public parking available in the spaces outside of the State Capitol. However, additional free public parking is available on the first floor of the Legislative Parking Garage (300 Capitol Ave, Hartford, CT 06106), which is where it is recommended Pension Academy attendees park. If the Legislative Parking Garage is full, metered street parking may be available on Oak Street or attendees can park at one of the private surface parking lots located a short walking distance from the Capitol.
Do attendees have to bring a printed ticket to the event?
Attendees are not required to bring their printed ticket to the Pension Academy.
For additional questions about the Pension Academy, please email the Connecticut School Finance Project at firstname.lastname@example.org