Connecticut Pension Fund Hits $76 Billion as First Retiree’s Annual Payout Tops $400,000
Updated
Updated · Hartford Courant · Sep 13
Connecticut Pension Fund Hits $76 Billion as First Retiree’s Annual Payout Tops $400,000
3 articles · Updated · Hartford Courant · Sep 13
Summary
$76 billion in assets marks Connecticut’s latest pension milestone after the fund rose 15% in fiscal 2026, adding about $11 billion and moving the system toward nearly 70% funding.
That rebound follows years when the pensions were only 35% funded and ranked among the nation’s weakest; officials said four straight years above the 6.9% target have lifted performance into the top national quartile.
John F. Veiga became the first retired state employee to receive more than $400,000 a year, with annual cost-of-living increases also pushing several other retirees above $300,000.
Gov. Ned Lamont still warned the market looks “scary,” saying AI-driven gains are concentrated in a small group of stocks and underscoring the need for Connecticut’s $4.5 billion rainy day fund.