Ned Lamont spent his first year in office trying to keep legislators from spending a $2 billion-plus rainy day fund. That’s significant, but it’s a manageable problem given the $2.5 billion the state currently holds in its rainy day fund. Pension costs expected to surge yet againAnd then there’s the big thorn in Connecticut’s budget: pension costs. The Center on Budget and Policy Priorities projection on state budget shortfalls caused by the coronavirus pandemic. Given all of these challenges in Connecticut’s fiscal future, forecasters have to strike the right balance, Lembo said.