Day: February 20, 2013

Legislation seeks to lower projected returns for pension system investments

Republican lawmakers are pushing a bill to cut the expected rate of return on Maryland $38 billion pension investment portfolio — a move that would effectively add billions of dollars to the state’s pension liabilities. The move to reduce what the GOP considers an unrealistic 7.75% rate to something like the corporate rate several points below that drew strong opposition from the State Retirement Agency at a hearing Tuesday.

State Roundup, February 20, 2013

Senate President Miller calls GOP “Neanderthals” over opposition to gas tax, while they hit back with transportation fund lockbox and statistics as Gov. O’Malley continues push for transportation funding plan; mental health and mental illness take center stage with bill aimed at gun control, ease of access to hospital beds and educating police on the issues; loophole in 4th degree sex offense law targeted; bill aimed at helping horse industry; veterans’ jobs bill face some opposition from nurses; suburban DC jurisdictions air concerns over job loss to federal budget cuts; and U.S. Rep. Edwards among most liberal.

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