pension plan

Local News
8:51 am
Thu March 27, 2014

MD House Okays Pension Money to Help Budget

Capitol in Annapolis
Credit creative commons

The House gave preliminary approval Wednesday to sticking with a plan already approved by the Senate to avoid cuts to education, health and other programs. The plan calls for using $200 million that had been planned to strengthen the long-term financing of the state's pension system.

Supporters say the state will gradually restore the full $300 million paid annually beyond the required payment to fully fund the state's pension system by 2039. But opponents say using the money now will cost the state more in the long run.

Read more
Local News
8:47 am
Thu February 20, 2014

MD Lawmakers Propose Retirement Plan Requirement for Small Businesses

Senator Richard Madaleno (D-Montgomery County)
Credit official photo

ANNAPOLIS, Md. (AP) - Maryland lawmakers are sponsoring a measure to make retirement plans available to private sector workers who are not currently covered by employer-sponsored plans.

Sen. James Rosapepe, Sen. Richard Madaleno and Del. Tom Hucker are sponsoring legislation. A hearing is scheduled for Thursday morning before the Senate Pensions Subcommittee.

A press conference has been scheduled for noon Thursday to talk about the measure. The lawmakers will be joined by SEIU, AARP and Maryland Business, a small business advocacy organization.

Read more