May 10, 2024
Funds

CT state pension funds turnaround after subpar performance

As Wall Street continues to break records, the state pension fund’s performance has reached its highest level in history at $55 billion. For the 2023 calendar year, the pension funds increased by 12.8%, pushing Connecticut up in the national rankings. The strong performance marks a solid turnaround from years when Connecticut ranked as the second

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Funds

Legislators balk at calls for school meal funding

When faced with pleas to extend Connecticut’s free school meal program, leaders of the Appropriations Committee encouraged testifiers at a public hearing Tuesday to go back to their districts and tap into federal COVID relief funds. The committee chairs expressed resistance to H.B. 5510, a bill that would renew the $11.2 million program that has

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Funds

Many CT towns, cities have not spent opioid settlement funds

Connecticut’s towns and cities recently received a combined $9.8 million from several nationwide legal settlements with opioid manufacturers, shippers and retailers, but many of those municipalities are still deciding how to spend that money to combat the ongoing opioid epidemic. The state Department of Mental Health and Addiction Services sent a survey to Connecticut’s 169

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Funds

CT seeks to fund teachers’ project proposals with $4M investment

Kate Dias, president of the largest teachers union in the state, the Connecticut Education Association, this week recalled a time in her teaching career when she bought Barbie dolls to make a lesson more engaging. One of her colleagues, she said, used Play-Doh to help create calculus models. For both projects, the money to purchase

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Property

Enfield bans Pride flag from town property

Enfield officials are coming under criticism after a decision Monday to ban the Pride flag from town property. The Enfield Town Council voted 6-5 Monday evening to ban all flags from town property except for the American flag, Connecticut state flag, POW/MIA flag, and military branch flags. The controversial decision repealed a previous flag policy

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Loans

CT Landlords obtained $50M in fraudulent mortgage loans

A New York man was fined more than $1 million and another has been imprisoned for orchestrating an elaborate fraud they used to acquire $50 million in mortgage loans and build an extensive residential real estate portfolio across Hartford. Federal prosecutors said the “sheer volume of false documents and material misrepresentations’’ concocted to deceive lenders

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