ANNAPOLIS, Md. (AP) — Maryland officials are holding a first-ever savings summit.

The event on Wednesday will feature financial experts in Annapolis.

Comptroller Peter Franchot, state Treasurer Nancy Kopp and Maryland Department of Budget and Management Secretary T. Eloise Foster are scheduled to attend.

Banking and lending experts also will analyze the current savings climate in Maryland.

Studies estimate that nearly 40 percent of older households in Maryland are inadequately prepared for retirement.

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