Pension Fund Mismanagement in Connecticut: A Decade of Underperformance
Oversight Area: Pension Fund Management
Legitimacy Score: 85/100
Executive Summary
This report documents the findings and impact of oversight activities in Pension Fund Management, treating watchdog functions as essential civic infrastructure rather than sensational exposés.
Key Findings
A Yale School of Management report revealed that Connecticut’s state employee pension funds have been among the worst performing in the nation over the past decade. The mismanagement of $40 billion in fund assets has compounded the state’s already burdened unfunded pension liabilities, one of the highest per capita in the country. As of June 30, 2022, Connecticut had the second worst performance of any state in the nation on a three-year and five-year annualized basis and the fifth worst on a 10-year basis. (ctnewsjunkie.com)
Institutional Failure to Self-Correct
Despite the underperformance, Connecticut’s pension funds have continued to underperform, with the state having the second worst performance of any state in the nation on a three-year and five-year annualized basis and the fifth worst on a 10-year basis. (ctnewsjunkie.com)
Outcome & Impact
The mismanagement of Connecticut’s pension funds has led to significant underperformance, with the state having the second worst performance of any state in the nation on a three-year and five-year annualized basis and the fifth worst on a 10-year basis. (ctnewsjunkie.com)
Legitimacy Assessment
With a legitimacy score of 85/100, this oversight represents highly credible and essential civic infrastructure.
Conclusion
Watchdog accountability functions as civic infrastructure, not scandal. This report demonstrates how oversight mechanisms successfully identified and addressed systemic failures.
Generated by JM Global Consortium’s Accountability Division
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