Tag: COLA

Pension commission delays decisions – but is told it can’t reduce COLAs

by | December 14, 2010 | , | 0 |

The commission examining changes to state retirement benefits put off any decisions until at least next week, but staff on Monday told the members that they couldn’t alter employee cost-of-living adjustments (COLAs) – one of the largest areas for potential savings.

Freezing or capping COLAs for current and future retirees for five to 15 years was one scenario suggested to the Public Employees’ and Retirees’ Benefit Sustainability Commission. But Michael Rubinstein, a legislative analyst staffing the commission, told the commission that “simply from a legal question that approach is not viable.”

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Teachers’ union criticizes pension commission process as rushed, “offensive”

by | December 10, 2010 | , | 0 |

The executive director of the state teachers’ union said the process being used by the commission considering changes to state pensions was “offensive,” rushed, and lacked both details and consultation with affected employees.

“The whole discussion has been how are we going to cut costs,” David Helfman, executive director of the Maryland State Education Association, told reporters Thursday at a briefing. “There’s no indication that it’s being done in good faith.”

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