During the Gubernatorial debate last Thursday, Governor Martin O’Malley and former Governor Robert Ehrlich expressed their views on addressing the unfunded liability associated with the State’s pension system. Former Governor Ehrlich stated, “The era of defined contribution is here.” He said that such a change would only affect future State employees. With respect to the teachers pension system, he stated that subdivisions should partially fund the system, but such a change needs to be done fairly, incrementally, balanced and cannot be done over night.
Governor O’Malley took a different approach. He stated that you need to bring people together to address it and that actions should wait until a special committee charged with examining this issue completes its work.
More coverage of the discussion that took place during the debate can be found on WBFF FOX45.