HARTFORD, Conn. (AP) — Bristol's pension plan is so flush with cash it's considering investing a few hundred thousand dollars in companies to boost economic development.
The central Connecticut city's pension liabilities total $210 million, T.J. Barnes, chairman of the city's Retirement Board and the city's treasurer, said Friday. That's less than half the city's pension fund of about $580 million, he said.
What Barnes called "one of the best funded pension plans in the state or country" contrasts with many companies that have halted pension contributions to save money and some states that are seeking greater employee contributions to strengthen pension plans.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
