O’Malley Won’t Pass Pension Costs To Counties

CAMBRIDGE, Md. (AP) — Gov. Martin O’Malley says he will not pass pension costs to the state’s counties in the budget proposal he will present later this month.

O’Malley, speaking to the winter conference of Maryland Association of Counties in Cambridge Thursday night, says he will propose ways to make the pension system sustainable.

He says those proposals will include improving the funding level within the system and asking for greater contributions from members of the system.

Maryland faces an approximately $1.3 billion budget gap for fiscal 2012, a shortfall O’Malley says will require shared
sacrifice.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Comments

One Comment

  1. BP says:

    GOVERNOR O’MALLEY….SOME STATE EMPLOYEES ARE WANTING A CHANGE WITH THE PENSION AGENCY. GET RID OF KENDERDINE, HE IS DOING A BAD JOB. WHY WOULD HE GIVE APPROVAL FOR MR. PERRY (CHIEF INVESTMENT OFFICER) TO RECEIVE NEARLY $80 K IN A TROUBLED ECONOMY THAT MARYLAND IS FACING WHEN WE HAD TO TAKE PAY REDUCTIONS AND RETIREES WERE NOT GIVEN COLA.

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Baltimore

Track Weather On The Go With Our App!
Your Podcast Network Play.it

Listen Live