Article Offers Practical Solutions to the Public Pension Crisis

A retired Harvard-educated lawyer argues for sharing risk as a fix to underfunded pension systems. An article on MuniNet Guide offers a model pioneered in New Brunswick as a solution that could be implemented by states and local governments throughout the US. The shared-risk model would bring employees and employers to the table to define … Continue reading Article Offers Practical Solutions to the Public Pension Crisis

2018 End of Session Wrap-Up: County Pensions

An overview of MACo’s advocacy on legislation affecting county pension systems in the 2018 General Assembly.  Follow links for more coverage on Conduit Street and MACo’s Legislative Database.  MACo successfully opposed a bill that would have imposed several mandates on county and municipal pension systems, upsetting the structure of benefits and programs available to public safety officers injured … Continue reading 2018 End of Session Wrap-Up: County Pensions

Disability Pension Bill Advances, With Major Amendments

A bill to requiring county and municipal pension systems to provide certain disability retirement allowances is advancing, but only with several amendments submitted by the Maryland Association of Counties and the Maryland Municipal League. The Maryland Association of Counties opposes legislation in the General Assembly that is a mandate on local pension systems to make … Continue reading Disability Pension Bill Advances, With Major Amendments

Investments Come In-House with Pensions Bill

Legislation to create an investment division within the State Retirement Agency has proceeded smoothly through the Maryland Senate. The change would bring Maryland’s System into line with many other state pension systems of similar size, and could save costs in the long term. On Thursday, March 15, a bill to create an internal investment division … Continue reading Investments Come In-House with Pensions Bill

Pension Benefits Increase Would Create an Unbalanced System

MACo Research Director Robin Clark Eilenberg testified in opposition to House Bill 1042, “Law Enforcement Officers’ Pension System – Benefit Cap Increase”, before the House Appropriations Committee on February 22, 2018. This legislation increases the limit for a normal service allowance for a member of the Law Enforcement Officers’ Pension System from 60% to 65% of … Continue reading Pension Benefits Increase Would Create an Unbalanced System

An Expense Cap Increase for the State Pension Agency

The Pension System Board of Trustees recommends 3 options for changing the cap on the Agency’s administrative expenses and legislative leadership chooses to introduces 1. The Joint Pension’s Committee Annual Report included information regarding the formula used to calculate the administrative expenses cap for the State Retirement Agency. According to the Report, for the past … Continue reading An Expense Cap Increase for the State Pension Agency

Professing Importance of Pitching & Patching Pensions At #MACoCon

On Wednesday, December 6 at the MACo Winter Conference, county administrators, budgets officers, government relations officials and a number of other government professionals dug deep into the challenges of executing successful pension plans in light of funding difficulties and a workforce with evolving priorities. Public pensions can provide a reliable and robust benefit for government … Continue reading Professing Importance of Pitching & Patching Pensions At #MACoCon

Pitching and Patching Public Pensions

Ever struggle to explain the value of a pension plan to a new hire? Learn how to describe the value of a defined benefit package, and hear the challenges of maintaining this traditional retirement option, in a session at MACo’s Winter Conference. Title: Pitching and Patching Public Pensions Description: Public pensions can provide a reliable … Continue reading Pitching and Patching Public Pensions

Big Returns for Pension Systems…Now What?

Governing magazine has reviewed the latest round of investment returns for public pension systems, and speculated on the next steps for jurisdictions offering these traditional defined benefit plans, that are dependent on long-term investments to pay for future benefit payments. The State of Maryland hosts such a plan for employees and public school teachers, and … Continue reading Big Returns for Pension Systems…Now What?

Pension System Reports Annual Returns of 10%

Almost half of Maryland counties are members of the Maryland State Pensions System, with county employees participating in the Pension System and counties contributing to it. The financial health of the System is particularly relevant for those counties, but all counties have a stake in the System as a cost driver in the State’s budget … Continue reading Pension System Reports Annual Returns of 10%