Conn. GOP says Malloy pension savings fall short

A nonpartisan analysis shows a $3.1 billion difference between how much Gov. Dannel P. Malloy expects to save from changes to the state's pension plan, and how much the General Assembly's budget office is now projecting.

In a letter to Republican leaders on Friday, the legislature's Office of Fiscal Analysis said the pension portion of the labor concessions deal reached last year between the Democratic governor and state employees will generate approximately $1.7 billion in savings over 20 years. Malloy's budget office, however, has said it would save $4.8 billion over 20 years.

Benjamin Barnes, Malloy's budget director, said OFA's analysis is flawed. He said the administration has relied on the plan's actuaries and remains confident in their findings.

Republicans had asked OFA to analyze Malloy's projected pension savings.