The Maryland State Retirement System suffers from chronic underfunding—facing an actuarial shortfall for existing participants of $19.6 billion as of July 1, 2014. Fixing the shortfall will require decades of contributions’ discipline even while major demographic impediments and a clear risk of economic downturns (during the next 25 years) loom.
While we can certainly agree with Mr. Hayward’s opening statement that the Maryland State Retirement and Pension System “suffers from chronic underfunding,” we must part company with his assertion that reforms to the System over the last four years have not addressed the problem.
Personal experiences likely to make Death with Dignity bill more compelling; poll finds that opposition to gambling grows with addition of casinos; twin pot legalization bills introduced in Senate, House of Delegates; with Gov. Hogan’s election comes hope for redistricting reform; state Transportation Department report says Hogan’s end to gas tax hikes would take $3 billion from projects while toll cuts would cut into maintenance projects; Hogan targets Medicaid spending; and longtime Baltimore City pol Frank Conaway Sr. dies at 81.
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