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Authority reports stable fund balance, notes rising claim starts; staff to refine projections with actuaries
Summary
Finance staff reported a contribution fund balance above $574 million, described higher benefit payments and a cooling labor market affecting contribution revenue; the CEO said January saw the highest number of claim starts on record and staff will work with actuaries and Aflac to update forecasts.
The CT Paid Leave Authority received a detailed finance briefing and a legislative and CEO update that together painted a picture of near‑term volatility in claims payments and contribution revenue.
Maddie gave a brief legislative summary: the 2026 short session began last week and will adjourn May 6; the Authority did not file its own bills but staff are monitoring proposals that could affect the program and have briefed House and Senate caucuses. The Authority will continue briefings, distribute a monthly legislative newsletter and provide sample…
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