top of page
Harry Arora_testimony.png

Protecting Connecticut Pensions

 I am running to be your next State Treasurer this November. The Office of State Treasurer manages the state pension assets for our state employees and teachers. It will be my priority to manage the state pension assets to earn the best returns possible in the markets. I am the candidate who will prioritize pension returns and ensure the security and solvency of your pensions.

Why are our pension funds struggling?

Our pensions have underperformed over the last decade: Our pensions have lagged the returns of US stock and bond markets in the past ten years. This multi-year underperformance has resulted in lost returns of billion of dollars. For the five years ending June 2022, our pensions have returned much less than the 6.9% needed to ensure solvency, while a composition of US stock and bond markets have returned much above that benchmark.

Investment returns have been sacrificed to pursue other priorities:  Past Treasurers and the other candidate have used pension investments as leverage for their political agenda. Pensioners, pension returns, and pension security have not been a priority. Our pensions have 40% of what is needed because of our sub-market returns. Had we obtained market returns over the last ten years, we would be closer to 80% funded, and our pensions would be secure.

Pension fund allocation borders on speculation: The allocation of our pension assets to the best S&P 500 firms is 20%. S&P 500 companies have led across industries and have provided outstanding returns. Most other pensions and individuals invest 50 percent or more of their assets in the S&P 500. Our Treasurers have chosen to invest more of our assets in foreign companies in Europe and Asia or industries which support their agendas. This foreign and discretionary exposure is speculative and is not prudent. As your next State Treasurer, I will bring our assets back home to high-quality assets.



As your next Treasurer, I will protect and strengthen our pension assets.

Our pensioner's interests will be my priority: I bring decades of investment experience and will define an investment strategy that will prioritize our pensioner's interests. I will ensure our pensions meet and exceed market returns and that we do not pay excessive investment fees. 

bottom of page