“The O’Malley Administration has understated the impact the pension shift will have on local governments”, according to Prince George’s County Deputy Administrator for Budget, Finance, and Administration Tom Himler. A recent Washington Post article reported:
Now, Tom Himler, Baker’s deputy administrator for budget, finance and administration, has come up with an estimate of what it would cost the cash-strapped county to take on the pensions in the 50-50 split that O’Malley has proposed.
It’s not a pretty picture.
Himler, who was responding to a request from state legislators from the county who want to help the Baker administration fight the shift, estimates that it will cost the county $34 million in fiscal year 2013, which begins July 1. By fiscal year 2022, Himler estimates, it will cost the county as much as $98 million annually.