Punishing the victims

MANIFESTO

I've talked about this before, but yesterday Governor Clubwoman put in her two cents regarding Connecticut's egregious underfunding of state pension funds.

A few months ago, it was reported that the Constitution State has the dubious distinction of having the third largest shortfall in this area: It currently stands at about $34 billion. This has come about as a result of dereliction of duties by state legislators, who sent such designated funds into the general fund.

So rather than try to actually, you know, make up the difference, our benighted governor has decided that it should be future pensioners who pay. Viz.,

the plan would include capping individual pensions at $100,000 per year, establishing a defined contribution plan for new state workers, increasing the retirement age to 65 from 62 and the early retirement age to 60 from 55 and raising the employee contribution.

Rell ... also proposed that in years when the state loses money on its investments, it would not make a cost-of-living adjustment.

Fortunately, Madame Clubwoman is just blowing smoke, as she's the lamest of lame ducks, but it's interesting to see how she'd operate if she had the luxury of another four years in office.