Posted on September 10, 2018 by admin
HARTFORD –State Representative Fred Wilms (R-Norwalk, New Canaan) has been appointed to the Connecticut Pension Sustainability Commission by House Republican Leader Themis Klarides. The appointment is effective immediately.
“I am honored to accept this appointment and I thank House Republican Leader Klarides for placing her trust in me,” Rep. Wilms said. “I believe that if we do not address our unfunded liabilities now, the impact on Connecticut’s economy could be irreversible. We need to make structural changes in the way Hartford has been doing business. I look forward to working with the other members of the commission to address our state’s pension system.”
The commission was established under H.B. 1502 (the budget) under section 180. The purpose of the commission is to explore the feasibility of establishing a trust composed of state assets for the benefit of the state pension system – the single largest component of the biennial budget. The commission is tasked with identifying state assets that may be suitable for the trust, studying the impact of placing those assets in the trust, and developing procedures for managing the trust.
The pension system, which is underfunded, has been a primary contributor to the perpetual budget deficit faced by lawmakers in Hartford. Rep. Wilms, a financial professional by trade, brings a wealth of experience and business acumen to the commission. In Hartford, Wilms is a key member on the legislature’s high-powered Appropriations Committee, which is responsible for allocating funds to the state’s various departments and agencies, and has significant budget oversight.
State Representative Fred Wilms represents the 142nd General Assembly district communities of Norwalk and New Canaan. He is a member of the Appropriations Committee, the Planning and Development Committee, and the Transportation Committee.