Connecticut Pension Reform

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Sean Scanlon
State Comptroller | Connecticut

Connecticut Pension Reform

Idea Category: Smart Government | Funding Source: American Rescue Plan

2023 Ideas Challenge Entry

The Connecticut State Comptroller, Sean Scanlon, oversees the municipal pension plan covering workers in 107 of Connecticut's 169 towns. To address major financial challenges that resulted in costs going up for towns and cities in the plan by 75% in the previous 5 years, the office convened a working group of Democrats, Republicans, labor, and management to tackle the issues. Over six weeks of in-person collaboration, the working group developed and reached an agreement on a series of win-win reforms that both labor and management could support and that would save millions this year and $740 million over the next 30 years.

Impact:

Scanlon believes that the data and numbers will demonstrate the effort's impact. Towns began realizing some savings on July 1, 2023 but the bulk of savings will begin in 2025 and happen over the next 30 years.