It is not unusual each year for the House of Delegates and Senate to disagree over parts of next year’s budget that will take them several meetings of a conference committee to resolve. What is unusual this year is that some of the key disputes involve the long-term sustainability of the state’s pension system and benefits for retirees, and what they will cost in decades to come.Read More
Tag: government retirees
By Len Lazarick Len@MarylandReporter.com A commission on state retirement benefits voted Monday to recommend cutting the state costs of health insurance 10% by hiking premiums and reducing coverage for state employees and...Read More
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.”Read More
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.”Read More
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