House Approves CT Pension Agreement

February 1, 2017

The agreement with the state's employee bargaining units helps to ensure Connecticut’s financial stability as we face the challenges of balancing state budgets in the years to come. It will help us meet our obligations and protect the financial future of those who have worked for Connecticut.

The agreement is supported by the state's credit ratings agencies. Moody’s has called it “credit positive.” S&P rates the deal “mildly positive” credit impact for state.

The business community also likes it. Webster Bank Chairman and CEO Jim Smith said the agreement helps move the state in the right direction. “It is a bullet dodged,” Smith said. “It’s an indication of just how deep the hole is we all want to dig out together.”

The Connecticut Business & Industry Association testified in support of it.