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Actuarial update: CT Paid Leave fund posts $612.4 million incurred balance through Dec. 2024; full-year projection revised
Summary
Spring Group presented its quarterly actuarial results for the CT Paid Leave trust fund for the six months ending Dec. 31, 2024, showing an incurred ending fund balance of $612.4 million and a revised full-year projection of $642.8 million driven by higher investment income and lower other expenses.
Spring Group presented the Connecticut Paid Leave Authority's actuarial quarterly update for the six-month period July 1'Dec. 31, 2024, and outlined a revised full fiscal-year projection through June 30, 2025.
Actuarial six-month results (incurred basis) - Beginning fund balance (net of outstanding contributions and claim payments): $628.7 million. - Net activity for the six months: negative $16.3 million. - Ending fund balance (incurred basis): $612.4 million. - Contributions earned in the six months: $215.0 million. - Investment income: $14.8 million (higher than prior projection of $11.3…
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