Tag: 2011 budget

Proposal for pension funding change draws criticism

A proposal to change the funding method for state pensions that will reduce state contributions to the system and delay reducing the state’s unfunded liabilities was criticized by two private sector representatives on the special commission studying retirement benefits. “The pension plan will never get to 100% funding,” said George Roche, former chairman and president of mutual fund giant T. Rowe Price, at a hearing Monday. “The workers are really exposed to a lot of risk and I don’t like it.”

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VIDEO: Budget feeding frenzy

When legislative committees get together to cut the budget, it can be a harrowing experience for the people in the audience. Lawmakers follow along with the various proposals listed in staff-produced documents as they decide...

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Budget talk can be confusing: How big is it?

After Gov. Martin O’Malley releases his budget today, there may be some confusion about how much he actually plans to spend.

The overall state budget – the one that shows up every year around page 7 in the official budget highlights book – will likely be about $31 billion, same as this year after all the cuts.

Many media reports focus on the “general fund” budget that is less than half that total, about $13 billion. Some accounts have even referred to this the “operating budget.” It is not.

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