A little bit of everything
County officials across Maryland are gearing up to push back against O’Malley administration policies that have cut state aid to the counties, piled on teacher pension costs with little say in how the pension system is run, and taken away local control over land use decisions.
Read moreMaryland’s $37 billion state retirement and pension system for employees and teachers earned only .36% on its investments in the fiscal year that ended June 30. This is far below the 7.75% that is the system’s target. “The last 12 months presented a challenging environment for investors, particularly in international equity,” said chief investment officer Melissa Moye.
Read moreThe big three New York bond rating agencies last week again affirmed Maryland’s almost sacred triple-A bond rating, attributing the decades-old stamp of approval to a strong economy, high incomes, prudent fiscal management and a willingness to raise taxes. But as they have for recent bond issues, the three agencies said the state government continues to face financial challenges from its above-average pension liabilities and likely federal budget cuts, along with an increasingly sluggish economy.
Read moreTake a look at Wisconsin’s public pension system to find out everything you need to know about how big this
Read moreReality is closing in on public pension liars and deniers trying to keep docile government workers and taxpayers in the
Read moreMaryland is in the same pension pickle as three-fifths of the other states, with its management of its long-term retirement obligations causing “serious concern” to the authors of a new study by the Pew Center on the States. Like 43 states facing similar problems, Maryland made substantial changes in its pension system last year. But the Pew Center report says additional reform will be needed, especially since Maryland and other states continue to short-change the recommended annual contributions to the pension system.
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