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

Anne Arundel County Council Votes Down Proposed PIA, Pension Charter Amendments

A Capital Gazette article (2016-07-05) reported that the Anne Arundel County Council has rejected to proposed charter amendments that would: (1) have altered what information is subject to public access; and (2) repealed the County’s Pension Oversight Commission. Both charter amendments had been proposed by County Executive Steve Schuh. In rejecting the proposed public access … Continue reading Anne Arundel County Council Votes Down Proposed PIA, Pension Charter Amendments

Schuh Proposes Eliminating Anne Arundel Pension Oversight Commission

A Capital Gazette article (2016-06-29) reported that Anne Arundel County Executive Steve Schuh has proposed a charter amendment that would eliminate the county’s Pension Oversight Commission, arguing that it is redundant to the Retirement and Pension System Board of Trustees. The chair of the Oversight Commission is opposed to Schuh’s proposal. From the article: “It’s a reduction of an unnecessary and … Continue reading Schuh Proposes Eliminating Anne Arundel Pension Oversight Commission