Pension Obligation Bond Legislation.Nutmeg State. Statewide or Local POB rules?

State: Connecticut

The pension triggering legislation: Bridgeport, CT wants to restructure its pension liabilities for its police nad fire fighter pension by ossuing pensino obligation bonds to lower its costs by $2.8M per year

The legislative quagmire: 

• Connecticut’s Assembly prefers statewide legislation and not local legislation
• Supporters say other municipalities with similar unfunded liabilities might want to take advantage of the bond market and pay off their unfunded debt
• Several members of the substative committee are pushing for a Bridgeport POB specific bill in lieu of statewide legislation

CT Post | Bridgeport pension bill clears committee