Mizeur Promoting State-Run Retirement Savings Plan
ANNAPOLIS, Md. (AP) — Democratic Del. Heather Mizeur, who is running for Maryland governor, has proposed a state-run retirement savings program to help workers who don’t have retirement plans from their employers.
Mizeur announced plans Wednesday for promoting the health, safety and security of Maryland’s elderly population. She also wants to seek more funds for Alzheimer’s research and create a registry of long-term care workers found guilty of abuse.
She estimates that the retirement savings program would become self-sufficient after a $360,000 start-up cost, and would have enough participants to make the user fees lower than alternative plans.
Participating employees would contribute at least 3 percent of their salaries through payroll deductions.
Del. Tom Hucker and Sen. Jim Rosapepe proposed a similar program this year, but their bills died in legislative committees.
(Copyright 2013 by The Associated Press. All Rights Reserved.)