Connecticut
Billionaire Ray Dalio joins push to fund Trump Accounts, pledging $75 million to Connecticut kids
The U.S. Treasury asked major philanthropic donors to contribute to new investment accounts for children Wednesday as part of what Secretary Scott Bessent called a “50 State Challenge” to raise funds for the Trump Accounts program.
“The president is calling on our nation’s business leaders and philanthropic organizations to help us make America great again by securing the financial future of America’s children,” Bessent said in an address.
The billionaire hedge fund founder Ray Dalio, along with his wife Barbara, announced they would commit $250 to 300,000 children under 10 in Connecticut who live in ZIP codes where the median income is less than $150,000. Dalio founded the investment firm Bridgewater Associates and lives in Connecticut.
“I have been fortunate to live the American Dream. At an early age I was exposed to the stock market, and it changed my life,” Ray Dalio said in a statement, adding that he sees the accounts as putting children on a path toward financial independence.
The Dalios’ $75 million commitment follows the $6.25 billion pledge from billionaires Michael and Susan Dell earlier in December. The Dells promised to invest $250 in the accounts of 25 million children 10 and under who live in ZIP codes across the country that also have that median income.
The new investment accounts were created as part of President Donald Trump’s tax and spending legislation, passed over the summer. Under the new law, the U.S. Department of the Treasury will deposit $1,000 into the investment accounts of children born during Trump’s second term.
The Treasury has not yet launched the new accounts.
“Starting on July 4th, our nation’s 250th anniversary, parents, family members, employers and friends will be able to contribute up to $5,000 to each Trump Account each year,” Bessent said Wednesday.
Brad Gerstner, a venture capitalist, who championed the accounts, said the Treasury will create an account for every child in the U.S. who has a Social Security number but private companies will eventually administer the accounts. Parents or guardians will have to claim the accounts on behalf of their children. For children born before Trump came to office and who don’t qualify for the funds from the Dells and the Dalios, their families can open and fund their own Trump Account if they choose.
Money in the accounts must be invested in an index fund that tracks the overall stock market. When the children turn 18, they can withdraw the funds to put toward their education, to buy a home or to start a business.
Bessent said employers, family members and philanthropists can put funds into the accounts and that the administration hopes states will also eventually set up programs to invest in the accounts. Companies including Visa and BlackRock have also pledged to contribute in some way to the accounts of their employees’ children.
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Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.
Connecticut
Study: Late-Night Gamers in Connecticut Are Dragging Down Productivity
According to a study published by Win.gg, all those late-night gaming sessions aren’t just wrecking your sleep—they’re wrecking Connecticut’s bottom line. Yeah, apparently your midnight raid or Fortnite grind comes with a side of lost productivity, and it adds up fast.
Win.gg surveyed 2,000 working gamers across the U.S., then crunched the numbers with data from the U.S. Census and the Bureau of Labor Statistics. The results? Roughly 47% of employed gamers in Connecticut admit they’re dragging the next day after a late-night session. On average, that translates to about 2.6 hours of work that… well, never really happens. If you put a dollar figure on it, that’s about $104 lost per worker in a single day. Multiply that by the state, and we’re looking at a staggering $74 million in lost productivity. Yup, you read that right—$74 million just because people stayed up too late chasing loot or finishing that last level.
Read More: Three Arrested for Burglary in New Fairfield
It’s not just your career that’s taking a hit, either. Gamers in the state report cutting their sleep by an average of 1.8 hours to fit in those extra hours of gaming. And we all know what happens when you skimp on sleep: coffee consumption goes up, focus goes down, and suddenly responding to emails feels like decoding hieroglyphics.
So, what does this mean for Connecticut? Employers are essentially paying for productivity that doesn’t happen, and the state as a whole is bleeding money. But let’s be real—nobody’s about to stop gaming. If anything, this is a reminder that maybe those late-night raids are best saved for the weekend, or at least capped so the Monday grind doesn’t feel like a marathon through molasses.
If you want to dive into all the numbers and methodology, Win.gg has the full breakdown here. But the takeaway is clear: your gaming habit might be costing more than you think—both in sleep and in dollars.
Exploring Beyond the Rusty Gates of Danbury’s Oldest Cemetery on Wooster Street
I live just down the block from the Wooster Street Cemetery and whenever I pass, I am always struck at how odd it is. You have this quiet, beautiful place that is dedicated to the people who were buried there, in the middle of a busy city and almost no one ever goes there. I decided to go take a deeper look around and see what was beyond the iron gates and stone walls.
Gallery Credit: Lou Milano
7 of the Most Beautiful Towns in the State of Connecticut
Connecticut is overflowing with both manmade and natural beauty. In some places, the two intersect to create a magical, almost fictional feel. Here are 7 Connecticut Towns that look like they came straight from a storybook.
Gallery Credit: Lou Milano
Top 10 Chain Restaurants with the Most Locations in Connecticut
The other day the boys and I were talking about KFC’s new “gravy flights,” and it got me wondering—do you know which fast-food chain has the most locations in Connecticut? None of us did, so I looked it up.
Gallery Credit: Lou Milano
Connecticut
Pension fund assets for retired CT state employees and teachers up 14%
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.
Connecticut
Body recovered after Bloomfield house fire and explosion
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.
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