EisnerAmper Managing Director Co-Authors “CT Pension Sustainability Commission Report”
Possible Remediation Template for States and Cities
After almost two years of testimony, hearings and drafts, the 13-member Connecticut Pension Sustainability Commission has released its final report. The mandate of the Commission was to explore the potential for making in-kind contributions of state-owned capital assets to a trust for the benefit of the state’s underfunded pensions. Key findings of the report include:
- A trust is a feasible tool for asset transfer.
- CT's Treasurer should provide oversight and direction for the management of assets transferred.
- Legislative guidance is required to balance policy implications of key asset transfers with pension impact.
Michael Imber, EisnerAmper Managing Director in the Financial Advisory Services Group and Leader of Public Sector Advisory Services, serves as a member of the Commission. “States and cities with pension sustainability issues can and should use this report as a guide in evaluating whether in-kind contributions of capital assets is a viable solution to consider,” he said.
Click here to view the Commission’s full report.