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

The event on Wednesday will feature financial experts in Annapolis.

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

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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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