Presentation Explains Pension Funding Plan Passed by the House

A recent presentation by the Department of Legislative Services provides further explanation of the pension funding proposal adopted by the Maryland House of Delegates last night.

As described in the presentation,

Under the House proposal, the pension fund is projected to reach the 80% funding level by fiscal 2023, the original goal established by the 2011 pension reform legislation, and saves $2.6 billion in unnecessary supplemental payments through fiscal 2028.

The Maryland Senate will now consider the pension budget proposal.

For more information, see the presentation here.