HARTFORD, Conn. (AP) — Bristol's pension plan is so flush with cash it's considering investing a few hundred thousand dollars in companies to boost economic development.
The central Connecticut city's pension liabilities total $210 million, T.J. Barnes, chairman of the city's Retirement Board and the city's treasurer, said Friday. That's less than half the city's pension fund of about $580 million, he said.
What Barnes called "one of the best funded pension plans in the state or country" contrasts with many companies that have halted pension contributions to save money and some states that are seeking greater employee contributions to strengthen pension plans.
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