The Maryland legislature is currently considering a proposal from the Department of Legislative Services that would alter the way the State funds its employee pension system while freeing up additional funds for the current budget year. A recent editorial from the Washington Post critiques the proposal and asserts potential long-term negative effects on the pension system.
From the article,
By grabbing pension dollars to plug immediate budget holes, lawmakers would risk the state’s future knowing that most of them will no longer be in office when the bill comes due.
Read the full editorial from the Washington Post here.
For more information on the proposal, see our previous posts, Maryland Legislature Considers New Pension Funding Proposal and Recommendation Repeals State Pension’s Corridor Funding Method and Supplemental Contribution.