Tag: Eloise Foster

Unions, pension board unhappy O’Malley cut $100M in promised payment to retirement fund

The largest unions representing state workers and public school teachers are upset at Gov. Martin O’Malley’s decision to permanently cut $100 million from extra payments into the state pension system. The money came from additional employee salary deductions required by a 2011 pension reform, and was intended to help cure underfunding in the pension system.

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More Md. bond funding in the works

The O’Malley administration on Wednesday successfully pushed to raise next year’s bond authorization to $1.16 billion, $75 million more than this year, rejecting objections by state Comptroller Peter Franchot that “we’re adding another Christmas tree ornament.”

“We can’t afford it,” Franchot told the Capital Debt Affordability Committee, saying it should stick to this year’s bond authorization of $1,085,000,000.

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$390 million rise in state employee health insurance raises concerns about costs and quality

Maryland’s Board of Public Works voted Wednesday to increase spending authority on health care benefits for state employees by nearly $390 million. Budget Secretary Eloise Foster said the increase would pay for more people joining the state’s plan since the original health care authorization in 2008. Comptroller Peter Franchot raised concerns about the quality of care the added costs would pay for.

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May tax hikes help drive slight Md. revenue growth, as fiscal cliff still looms

May tax hikes are helping drive a $181 million uptick in Maryland revenues forecast this fiscal year, the Board of Revenue Estimates determined Monday. But state financial officials are still concerned that Congress has not acted to keep the national budget from falling off a fiscal cliff in 2013, with expiring tax cuts and mandatory spending reductions sending the economy into a second recession.

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