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to proposed charter amendments that would: (1) have altered what information is subject to public access; and (2) repealed the County’s Pension Oversight Commission.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

Report Sees Pensions As Invisible Handcuffs on Government Hiring

  A senior fellow at the Manhattan Institute finds that pension costs create fiscal volatility and that the current approach to financing public pension debt results in lower state and local government staffing levels.   A recent report draws a connection between pension debt and a continued lag on state and local governments hiring workers to replace those lost … Continue reading Report Sees Pensions As Invisible Handcuffs on Government Hiring

The 1-2-3 of Strong Pension Plans

A recent article points to the fact that there are examples of well-managed public pension systems – and shares a few of their practices. Bad press has blurred the fact that not all public pension plans are underfunded and overly generous. –Governing Among the qualities of pension plans that are fiscally sound are: They provide moderate benefits … Continue reading The 1-2-3 of Strong Pension Plans

The Facts on Public Pensions

The Center for State and Local Government Excellence offers free webinars and other resources for learning about public pensions management. Whether your County participates in the State of Maryland’s Pension System, or if you have your own local pension system, this information from the Center for State and Local Government Excellence will keep you up-to-date with … Continue reading The Facts on Public Pensions

Arizona’s About-Face on Pensions

A state with acute pension issues has passed pension reform legislation that could set an example for many, including Maryland. According to Governing, bold new legislation enacted in Arizona holds the promise of putting their pension system back on track and serving as a national model for collaborative public-pension reform. The reforms include: Caps on maximum annual salaries … Continue reading Arizona’s About-Face on Pensions

$19 Million for Teacher Pension Increase

The General Assembly has adopted a budget provision that would provide almost $19 million to local school boards towards additional pension costs in 2017. The extra state funding would account for the increase in pension costs due to the adoption of new normal cost rate. The state funding does not account for the amount of the teacher pension … Continue reading $19 Million for Teacher Pension Increase

Consensus Bill Closes Gap in Teacher Pensions

MACo Executive Director Michael Sanderson, testified in support of HB 934, Teachers’ Retirement and Pension System – Employer Contribution for Local Employees, to the House Appropriations Committee on March 1, 2016. This bill provides a method for addressing a shortfall in funding required to meet the portion of Maryland state teacher pension costs that exceed … Continue reading Consensus Bill Closes Gap in Teacher Pensions

Teacher Pensions Could Cost Even More Next Year

A budget analysis by the Maryland Department of Legislative Services reveals a $30 million difference between the actual costs of teacher pensions in FY 2017 and a previous estimate. The local share of teacher pension costs is projected to increase beyond what was envisioned by a 2012 law shifting some of the costs to local governments. The … Continue reading Teacher Pensions Could Cost Even More Next Year