Billions in pensions, liabilities define race between veteran Conn. treasurer, GOP challenger


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HARTFORD, Connecticut — Pension funds valued at $29 billion and even greater unfunded liabilities are giving Treasurer Denise Nappier and Republican challenger Tim Herbst plenty to fight about.

Nappier, state treasurer since 1999, is telling voters that despite a heavy debt burden for pension obligations, Connecticut has saved money in interest costs and is reducing the debt.

Herbst, Trumbull's first selectman, acknowledges he's the underdog.

He says in TV and Internet ads that Connecticut is broke and he's pushing for less borrowing, a reduced reliance on pensions and other ways to cut state debt.

Nappier says the Teachers Retirement Fund and State Employees Retirement Fund, the two largest plans that invest assets for about 194,000 state and municipal employees, teachers, retirees and others, are on a path toward sound financial footing.

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