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"This is an important step. This payment marks the first time since 2010 that the BOE has made a full payment of its pension obligation," said
"CTPF is a well-managed plan that has generated an 8.86 percent average return over the last 35 years," said Rehak. "Our financial situation has deteriorated because our employer and the state underfunded this plan for decades. As a result, our plan's funded ratio has fallen from 100 percent in 2002 to our current 49.5 percent."
Before 1995, CTPF collected a property tax levy directly from the city of
CTPF's fiscal situation was exacerbated in 2010 when the
"Our fund has had an actuarially based funding schedule in place for many years, but without a consistent, reliable source of revenue – it means nothing," said Rehak. "Our teachers who do not contribute to
Established by the