State Rep. Fred Wilms (R-New Canaan, Norwalk) recently accepted an appointment to the state’s Pension Sustainability Commission by House Republican Leader Themis Klarides.
The commission will explore the feasibility of placing state assets in a trust for the benefit of the state pension system, which is severely underfunded, Wilms said in a press release. The commission determines which assets are available and suitable for the trust, as well as the potential impact on the state.
“State employee pensions are the largest single component of our budget,” Wilms said. “If we are to avoid massive deficits in the future, we need to have a frank discussion about retirement benefits, consider their impact on Connecticut, and make structural changes in the way Hartford has been doing business.”
“Connecticut’s pension system has been mismanaged for some time, and unless we address this problem now, the toll it will take on our economy will be irreversible.”
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