State Treasurer Erick Russell achieved a 14% increase last year investing Connecticut’s pension fund assets, gaining roughly $8.3 billion for retirement programs for state employees, teachers and other municipal workers. 

The state, which oversees nearly $69 billion in pension assets, aims for an average annual return on pension investments of 6.9%. 

Expectations for bigger gains grew throughout the past year as key stock market indices surged. The Dow Jones Industrial Average, an index of 30 prominent companies listed on stock exchanges, grew by more than 13% in 2025. And the S&P 500, which follows 500 traded companies, topped 16%.

Among peer states and other entities that manage public pension funds holding more than $10 billion in assets, Connecticut’s 2025 performance ranks in the top 17%, Russell said. 

But the treasurer, who also announced this week he will seek a second term, said the latest big earnings stem from more than the big gains Wall Street enjoyed in 2025. 

“Markets certainly have been strong, but a lot of this is about our overall asset allocation,” said Russell, who updated the Investment Advisory Council Tuesday on the state’s portfolio. “The progress we’ve been making … is a good sign that we’re set up for future success.” 

Russell also reported investment gains of 10.3% for the 2024 calendar year and 12.8% for 2023. 

State officials particularly have focused on improving investment returns since a May 2023 report from Yale University researchers found Connecticut’s results badly lagged the nation’s over the prior decade. 

That only compounded an even larger pension problem that state officials began to address in the early 2010s. According to the Center for Retirement Research at Boston College, Connecticut governors and legislatures failed to save adequate for pension benefits for more than seven decades prior to 2011. This deprived the state treasurer of huge assets that otherwise could have been invested to generate billions of dollars in revenue over those seven decades. 

The treasurer’s office under Russell has put more funds into private and domestic markets and curbed reliance on investment managers who receive large fees for their work. 

Gov. Ned Lamont and the General Assembly also have greatly assisted efforts to bolster the fiscal health of pension programs in recent years. Since 2020, they have used $10 billion from budget surpluses to make supplemental payments into pensions for state employees and municipal teachers. That’s in addition to annual required payments that currently approach $3.3 billion in the General Fund. 

“These returns highlight the impressive work of Treasurer Russell and his team in increasing investment returns,” Lamont’s budget spokesman, Chris Collibee, said Tuesday. “Gov. Lamont’s focus has been on building a sustainable Connecticut for the future. Every dollar in additional investment revenue is funds the state can use to cut taxes and provide more resources for essential programs like education, child care, housing, and social services safety nets.” 

Russell, a New Haven Democrat, said he has tried to make the office both “disciplined and forward-looking.” 

“Over the last several years, we haven’t just changed how the office works, we’ve changed who it works for. We’re ushering in a new era of fiscal responsibility, making significant payments on long-term debt that has allowed us to invest in the residents of Connecticut and begin to lift up communities across our state.” 

Russell also brokered a key compromise in 2023 between Lamont and the legislature that salvaged the Baby Bonds program, an initiative that invests long-term funds in Connecticut’s poorest children when they’re born to help finance educational and business opportunities later in life.

Keith M. Phaneuf is a reporter for The Connecticut Mirror (https://ctmirror.org). Copyright 2026 © The Connecticut Mirror.

A body was recovered after a house explosion resulting in a house fire in the area of Banbury Lane on Monday night.

Fire Marshal Roger Nelson says they recovered a body around 1:15 on Tuesday morning. The identity of the body found will not be released at this time.

When officers arrived around 6:11 p.m. they encountered the house fully in flames, police said.

According to police, the fire department was able to extinguish the fire, but the house sustained devastating damage.

There are no criminal aspects related to this incident at this time.

The incident was contained to the one house.

Ex-CBS host Josh Elliott is looking for love eight months after he filed for divorce from “Eyewitness News” anchor Liz Cho.

“Josh is out and about on the dating scene in Fairfield County,” a spy exclusively tells Page Six. “He’s been seen at the bars in the area where middle-aged singles congregate.” 

A second source tells Page Six, “Josh isn’t dating anyone, but he is open to meeting people. His daughter is his priority.”

Page Six can also reveal that Elliott moved out of his and Cho’s estimated $4.2 million Connecticut marital home in January.

In court papers dated Jan. 29 and obtained by Page Six, Cho revealed Elliott moved out of their home and into a new residence without her knowledge.

Cho claimed she was notified by Optimum on Jan. 21, regarding her ex installing internet at his new home.

“The Defendant learned for the first time from said communication that on or about January 15, 2026, the Plaintiff secured an unfurnished rental residence located in Southport, Connecticut,” the filing read.

“It is now clear that the Plaintiff surreptitiously entered a new lease…” the court papers continued.

A rep for Elliott did not respond to Page Six’s request for comment.

Page Six broke the ousted CBS anchor filed for divorce from Cho after a decade of marriage on June 20, 2025.

“The marriage of the parties has broken down irretrievably,” the court papers read. Elliott asked for a “dissolution of the marriage” and for “an equitable distribution of all property, both real and personal.”

Cho responded to her estranged husband’s complaint on Nov. 6 and filed a cross-complaint against him. She also stated their marriage “has broken down irretrievably.”

The divorce became messy when Cho requested “copies of written correspondence, emails, cards, WeChat messages, Facebook messages, social media messaging, instant messaging, telephonic text messages, transcribed voicemail messages or any written forms of communication” between Elliott and “any person, other than the defendant, with whom [Elliott] have or have had a romantic and/or sexual relationship, from July 11, 2015, to the present.”

Elliott objected the request on the “grounds that the time frame of the request for production is unreasonable, unnecessary, harassing and not likely to lead to the discovery of admissible evidence.”

Cho also requested “monies spent for the benefit of any person with whom you have had a romantic and/or sexual relationship, other than the defendant,” “property given or transferred by you to any person with whom you have had a romantic and/or sexual relationship, other than the defendant,” “monies spent for your benefit by any person with whom you have had a romantic and/or sexual relationship with, other than the defendant.”

The TV personality in addition requested financial records, documentation proving Elliott’s search for employment — as he was ousted from CBS in 2017 — travel invoices, and more. Elliott objected to the requests.

A source close to the couple previously told Page Six, “This is standard in a divorce. Her lawyer is doing a thorough document request. The documents she is requesting are standard.” The insider also insisted there is no evidence Elliott had a relationship with anyone outside the marriage.

Also in the Jan. 29 court filing, Cho filed a motion for contempt against Elliott regarding their jointly owned marital Connecticut mansion.

Cho claimed Elliott arranged for a moving truck to come to the marital residence while she was on vacation with her daughter on Jan. 19.

Cho claimed Elliott moved a “significant amount of furniture and furnishings from the marital residence,” and their “two Portuguese water dogs,” which she alleged at the time of the filing were not returned.

The court docs continued to allege, “On Tuesday, January 6, 2026, [Cho] realized that she was missing a valuable watch and earrings from her jewelry bag. As [Elliott] is the only other person who had access to the missing watch and jewelry, [Cho] believes [Elliott] is in possession of such personal property.”

She claimed his alleged actions are a “willful violation” of the court’s orders.

The insider alleged Elliott was the one to take care of the dogs and that he took “a small amount of furniture.”

In Elliott’s response to her filing, he objected to her request and claimed her allegations are “false and inflammatory.”

He claimed in court papers, “[Cho] alleges [Elliott] ‘ransacked’ and ‘abandoned’ the marital residence — claims that are patently false and intended to annoy, harass and intimidate [Elliott].

“[Elliott] did not ransack the marital home. He did not damage the property. He did not render the residence uninhabitable. He removed limited personal property and furnishings so he would have a safe haven from [Cho’s] escalating and erratic behavior direct at not only [Elliott], but his minor child as well.”

In a separate filing, he continued to defend his actions by alleging, “[Elliott] removed only limited furniture items and furnishings, many from the basement, solely to furnish a new residence after removing himself and his child from a hostile environment created by [Cho]. All property remains intact and subject to equitable distribution.”

In regard to the jewelry claim, Elliott said, “Perhaps most egregious is [Cho’s] baseless accusation that [Elliott] stole her jewelry. This allegation is made without evidence, without corroboration and without even a good-faith attempt to verify the truth.”

He then accused her of “monitoring and listening to [Elliott’s] private phone calls; rifling through [Elliott’s] personal belongings and closet; leaving the marital residence for extended periods without communication despite the presence of two dogs requiring daily care” and more claims.

He is requesting that the court deny her motion for contempt and they are due in court on March 20.

Lawyers for Cho and Elliott did not respond to Page Six’s request for comment regarding the divorce.

Elliott, 54, and Cho, 55, met while working for ABC and got married in July 2015.

This was the second marriage for both, as they each share a daughter from their previous relationships.

Cho has been with ABC on “Eyewitness News” since 2003, while Elliott was with ABC’s “Good Morning America” from 2011 to 2014.

After a brief stint with NBC, he joined CBSN as lead daytime anchor in March 2016. Nearly a year later, he was let go from the company.

Elliott has been out of the spotlight in recent years, but is now in talks to join Gayle King and Nate Burleson on “CBS Mornings,” Awful Announcing reported.