Tag: state employees

Furloughed state workers to get administrative leave

by | May 27, 2010 | | 0 |

Gov. Martin O’Malley signed an executive order last week authorizing furloughs and pay cuts for state employees for the coming fiscal year, but at the request of the largest union of state workers, he added a provision granting furloughed workers paid administrative leave in the following year for the same amounts.

State employees making at least $40,000 per year will be required to take three furlough days, while employees making $50,000 and $100,000 will have to take four and five furlough days, respectively. Other workers, including “24/7” employees such as correctional and police officers, making less than $40,000 will lose three days worth of pay for those and those making more will lose five days worth of pay.

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State retirees facing pension cut

by | December 8, 2009 | , | 0 |

Pension payments to retired state employees could go down next year for the first time ever as benefit calculations reflect a shrinking economy in 2009, and some lawmakers are looking at whether the state should step in to prevent it.

Though the year is not yet over, the Consumer Price Index that measures the cost of household goods and services is trending downward, and under current law that would cause payments to decline. Typically, increases in the CPI drive cost of living benefit increases, but the mechanism cuts both ways. The U.S. CPI was down 0.2 percent during the 12 months that ended in October.

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State pension gap grows to $17.5 billion

by | November 4, 2009 | | 0 |

Maryland will likely have to increase payments to its teacher and employee pension funds by $189 million next year, lawmakers learned Tuesday as officials with the State Retirement Agency broke down its results from fiscal 2009.

Pension officials said the state’s pension funds have promised to pay out $17.5 billion more than Maryland has put aside. The State Retirement and Pension System of has about $28.6 billion.

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