Connecticut's State Pension Crisis

Hidden in the economic debacle created by the Connecticut Democrat Party is the ongoing state pension crisis.  According to a new report released by the American Legislative Exchange Council Connecticut is dead last in total ratio pension funding in the country coming in at 20.28% of the money needed to fund the pensions, thus being underfunded by 80%. The unfunded pension liability amounts to $32,805 per person in the state and 45.13% of Connecticut’s gross state product according to this report.
Connecticut assigns a very high rate of return of 6.9% to its State Employee Retirement System and an even higher 8% rate of return for its Teachers Retirement System.  Both funds do not achieve this rate of return as far as I can research.  With limited information to review I see that the Teachers Retirement System is seriously underfunded and their rate of return is also seriously understated.  Therefore both funds are underfunded by $70 billion dollars.  This debt will only grow in the future and is a massive part of the states yearly budget in costs.  I estimate in the near future that due to the borrowing for these pensions along with the actual annual contributions the state makes to them and the pension payouts themselves, 20% or more of the state budget will account for employee pension costs.
Governor Lamont's solution like former Governor Malloy's solution is to push payments down the roads years from now and continue to estimate the same rates of return on the pension funds. Thus future generations will be bankrupted trying to pay for these pensions for a small minority of the workers of the state.
This current pension crisis should have been addressed in this legislative session.  Obviously it was not.  Where is the money going to come from in the future?  How is this sustainable?  What is coming next a new tax to pay for the state teacher and employee pensions? 
Pushing payments years from now to pay for the funds just exaggerates the issue.  Realistic rates of return along with self funding pensions should be immediately enacted.  Negotiations need to be implemented to restructure pensions to stop these massive costs from bankrupting Connecticut.  I think many legal citizens and legal taxpayers of the state are fed up with these ridiculous salaries, pensions and benefits that paid out yearly to suffice a ruling political elite of the state.
It is time to address Connecticut's state pension crisis today.