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%

Legislation to Close Gap in Teachers’ Pensions Moving in House and Senate

A bill which addresses the shortfall in funding required to meet the portion of Maryland state teacher pension costs that exceed costs anticipated during the 2012 “pension shift” is on the move in the General Assembly. House Bill 1109 / Senate Bill 1001, “Teachers’ Retirement and Pension Systems – County Boards of Education Payments,” passed … Continue reading Legislation to Close Gap in Teachers’ Pensions Moving in House and Senate

Both Chambers Pass Bill to Close Gap in Teachers Pensions

A bill which addresses the shortfall in funding required to meet the portion of Maryland state teacher pension costs that exceed costs anticipated during the 2012 “pension shift” is on the move in the General Assembly. House Bill 1109 / Senate Bill 1001, “Teachers’ Retirement and Pension Systems – County Boards of Education Payments,” passed … Continue reading Both Chambers Pass Bill to Close Gap in Teachers Pensions

MACo Encourages State Support for Teacher Pension Cost Overages

MACo Policy Associate, Kevin Kinnally, testified in support of legislation (HB 1109 and SB 1001)which addresses the shortfall in funding required to meet the portion of Maryland state teacher pension costs that exceed costs anticipated during the 2012 “pension shift”. MACo’s testimony states, The actual normal costs of teacher pensions in fiscal year 2017 are … Continue reading MACo Encourages State Support for Teacher Pension Cost Overages

State Pensions Board Recommends 2017 Legislation

The Maryland State Pensions Board has completed its annual process of recommending legislation for introduction in the General Assembly. At its last meeting, the Board approved two additional legislative requests in addition to those already approved. For more information, see the Board requested legislation and the Board requested legislation addendum. According to process, the Board presents … Continue reading State Pensions Board Recommends 2017 Legislation

Governments Try Out Buyouts For Pension Reform

While state and local governments across the country have generally focused on new hires and controlling the growth of future liabilities to address pension reform, some are looking at buyouts, Governing reports. Philadelphia’s controller Alan Butkovitz targets the city’s most expensive workers by offering members of its oldest and most generous pension plan, Plan 67, an upfront cash payment based on … Continue reading Governments Try Out Buyouts For Pension Reform