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Authority reports continued solvency; benefits payouts drove negative contribution variance
Summary
Finance staff said the fund remains solvent with a projected year‑end balance near $575 million, but benefits paid exceeded budget driving a large negative variance in net activity year‑to‑date.
At the Jan. 9 meeting the Connecticut Paid Leave Authority’s finance director reviewed November results, a December preview and year‑end projections, reporting the fund remains solvent but noting higher‑than‑budgeted benefit payments.
For November, operating expenses were about $1.5 million; the authority recorded a positive operating variance for the month but a negative net contribution activity of roughly $42.3 million…
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