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INVESTIGATE: Why Have CT Taxpayers Paid $67-Million-Man Blumenthal $314,000 in Pensions Since 2011?

December 8, 2017 By Staff
INVESTIGATE: Why Have CT Taxpayers Paid $67-Million-Man Blumenthal $314,000 in Pensions Since 2011?

As Connecticut faces budget and pension crises, it's still paying its senior senator, worth almost $67 million, a generous state pension.

Connecticut faces budget and pension crises numbering in the billions of dollars. These issues threaten to define the state, and how it operates, for decades to come.

Some may be wondering, then, why multimillionaires like Sen. Richard Blumenthal (D-Conn.) collect a state pension worth 80 percent of the average Connecticut household’s income.

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In June, Reclaim Connecticut shared with you Jon Lender’s investigation into state health benefits for current and former state employees like Blumenthal.

Now, we’re taking a look at Blumenthal’s pension payments.

This year, Blumenthal is worth around $67 million, according to Roll Call. He’s the seventh-wealthiest member of Congress. He has $30 million in investments, $23 million in real estate, $2.5 million in trusts, and $11 million in bank accounts.

But every year, since at least 2011, Connecticut taxpayers have sent him a generous pension.

Here’s the year-by-year breakdown, based on Blumenthal’s personal financial disclosures:

  • 2011: $47,080 in pension payments
  • 2012: $51,434 in pension payments
  • 2013: $51,434 in pension payments
  • 2014: $51,434 in pension payments
  • 2015: $55,761 in pension payments
  • 2016: $57,155 in pension payments

For those keeping track, that’s $314,298 in pension payments over six years.

State-provided health care, $50K+ in annual pension payments, and a net worth of $67 million – it’s a pretty sweet ride for Blumenthal. Connecticut taxpayers may not be able to say the same.

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