Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Actuarial update: CT Paid Leave reports a $639.1M ending balance for July–Sept quarter; FY26 projection revised down
Summary
Actuarial consultant Harindra Sebastian told the board the Authority restated its beginning balance and reported an ending fund balance of about $639.1 million for the July–Sept quarter; staff cut the FY26 net-activity projection and now forecast an ending balance near $648.6 million due to refunds and higher incurred claims.
The Connecticut Paid Leave Authority's actuarial consultant presented the July–September quarterly update on Dec. 11, reporting a restatement of the beginning fund balance and a modest downward revision to the fiscal‑year projection.
Harindra Sebastian, presenting on behalf of Spring, said the Authority restated the beginning fund balance to $638.9 million to account for a corrected reserve related to outstanding contributions. For the quarter, staff reported contributions earned of about $111.4 million, investment income of about $6.7 million and incurred claims of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
