Gov. Lamont, Treasurer Russell push back on state investment reform

Connecticut Inside Investigator – Monday, April 21, 2025
By Marc E. Fitch

Since landing the job in 2022, State Treasurer Erik Russell has instituted a number of reforms to Connecticut’s investment strategy following a 2023 report issued by the Yale School of Management, which found Connecticut had the second-worst investment performance in the country, costing taxpayers $10 billion in unrealized gains over ten years.

Despite glowing testimony and lawmaker comments about Russell’s reforms during a public hearing before the Finance, Revenue and Bonding Committee last week, however, it appears the latest proposal to reform Connecticut’s pension investment practices may be a bridge too far for both Russell and Gov. Ned Lamont.

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