Connecticut's pension funds reported returns of 15.1% for fiscal year 2026, once again substantially outpacing the assumed rate of return of 6.9%, Governor Ned Lamont and Treasurer Erick Russell announced at a Wednesday news conference.
The funds benefited from $1.487 billion in excess contributions made in fiscal year 2025. When combined with investment earnings, total assets within the pension funds increased by $11.0 billion in 2026. The funds have outpaced the assumed rate of return in each of the last four fiscal years: 10.14% in Fiscal Year 2025, 11.5% in Fiscal Year 2024, and 8.5% in Fiscal Year 2023.
"This progress is the result of disciplined fiscal management, and it gives us greater flexibility to make investments in education, housing, and other priorities that strengthen our economy and improve quality of life for people across our state," Lamont said.
Earlier in the week, Lamont and Lt. Governor Susan Bysiewicz hosted the state's annual 9/11 Memorial Ceremony at Sherwood Island State Park in Westport, marking the 25th anniversary of the attacks. Family members of those killed attended, and the names of the 161 victims with ties to Connecticut were read aloud.
On Tuesday, the State Bond Commission, chaired by Lamont, voted to approve additional funding to continue a reduction on the public benefits portion of customers' electric bills through at least next spring. The public benefits category is currently appearing as a credit on customers' bills due to the state bonds combined with contracts Lamont negotiated with the Millstone and Seabrook nuclear power plants.
Lamont also met Wednesday with a delegation from Connecticut's Ukrainian sister-state, Donetsk Oblast, including First Deputy Yurii Vynokurov and Head of Bakhumt District Sergii Kalian. "Twenty-five years ago our country was attacked by terror," Lamont said. "And you're here in brotherhood with us because together, we stand up against terror."
On Thursday, Lamont and Consumer Protection Commissioner Bryan T. Cafferelli announced nine cease-and-desist orders against companies illegally operating prediction markets in the state. "Prediction markets have branded themselves as legal and safe, but the reality is they are not adhering to Connecticut's consumer protection standards and gaming laws," Lamont said.
Farmers who suffered financial losses from severe weather in 2023 and 2024 can now apply for disaster relief funding from $52.9 million awarded to the state by the U.S. Department of Agriculture. Applications for the first round must be submitted to the Connecticut Department of Agriculture by October 7, 2026.
The state also activated its 300th Wrong Way Driver Detection System, installed in New Britain, and a WalletHub study ranked Connecticut the seventh happiest state in America.