2020 End of Session Wrap-Up: Pensions
Bill Hearing / County News / MACo Testimony / Pensions & Public Funds
2020 End of Session Wrap-Up: Pensions

An overview of MACo’s advocacy on pensions issues in the 2020General Assembly.  Half of Maryland’s counties participate in the State’s pension system, and the other half support their employees through local pension systems. MACo’s pension advocacy includes defending local authority to define the elements of county-run pension systems, and protecting the interests of county governments participating in the State’s pension system. This year, for the first time in since the Civil War, the General Assembly…

Comments Off on 2020 End of Session Wrap-Up: Pensions
March 22, 2020
Bill Hearing / County Budgets / County News / Employee Benefits and Relations / MACo Testimony / Pensions & Public Funds
Counties Support “Local Option” Amendment for Pension Enhancements

MACo Executive Director Michael Sanderson testified to the House Appropriations Committee, in support with amendments to HB 659 - Law Enforcement Officers' Pension System - Benefits. This bill presents a significant unfunded mandate on county governments by increasing the normal service retirement benefit multiplier for members of the Law Enforcement Officers’ Pension System from 2.0% to 2.5%. The bill also raises – for the second time in three years – the cap on normal service…

Comments Off on Counties Support “Local Option” Amendment for Pension Enhancements
February 19, 2020
Preview the 2020 Session “Big Picture”
Business Affairs / County Budgets / County News / Education / Elections / Emergency Management / Employee Benefits and Relations / Environment / Finance and Procurement / General Assembly News / Government Liability and Courts / Health and Human Services / Housing and Community Development / Human Resources / Information Technology / Parks and Recreation / Pensions & Public Funds / Planning and Zoning / Public Information and Ethics / Public Safety and Corrections / School Construction and Capital Budgets / State Budget and Fiscal Issues / Taxes and Revenues / Transportation and Public Works
Preview the 2020 Session “Big Picture”

A compilation of Issue Papers previews major fiscal and policy issues facing the General Assembly in the year ahead. This resource is a handy guide to the top issues that your legislators will be tackling in 2020 – a great preparation document for county officials in advance of meetings with their local Delegations. Developed by the Department of Legislative Services (DLS), the 2020 Issue Papers are an annual staple for the Annapolis policy-inclined population. They are also…

Comments Off on Preview the 2020 Session “Big Picture”
December 6, 2019
County News / Pensions & Public Funds
Printing Money Proposed to Save Public Pensions

An article in Barron's proposes using modern monetary theory to solve the issue of underfunded state public pensions. An article by  Randall W. Forsyth in Barron's describes how public sector finances lag, despite recovery in home prices since the recession. State and local pensions have $8.8 trillion of liabilities, of which only 52% is funded after a decadelong bull market. Falling interest rates have been a major propellant of higher asset prices, but also have…

Comments Off on Printing Money Proposed to Save Public Pensions
September 30, 2019
Maryland Gets a “D” for Fiscal Health
Maryland's fiscal condition (Truth in Accounting)
County News / Employee Benefits and Relations / General Assembly News / Pensions & Public Funds / State Budget and Fiscal Issues / Taxes and Revenues
Maryland Gets a “D” for Fiscal Health

In its 2019 study on state fiscal rankings, Truth in Accounting (TIA) found that Maryland's debts outweigh its revenues by $33.5 billion — or $12,500 per taxpayer, earning it a “D” grade from the non-profit government finance watchdog group.   The analysis is part of the tenth annual State of the States (FSOS) report, a comprehensive study of the fiscal health of all 50 states based on FY 2018 comprehensive annual financial reports (CAFRs). In the report, TIA…

Comments Off on Maryland Gets a “D” for Fiscal Health
September 25, 2019
County News / Pensions & Public Funds
Article Suggests Certain Investments for Public, Church Pensions

As described in an article in Chief Investment Officer, public pensions and church pensions face similar difficulties and might benefit from similar investment models. A white paper written by Rivera and Mercantile Managing Director Thomas Cassara suggests managing volatility and avoiding drastic underfunding. According to Cassara, an ideal investment strategy for these plans needs to address two key objectives. One is to improve the funded status of the plan while managing the ups and downs…

Comments Off on Article Suggests Certain Investments for Public, Church Pensions
September 13, 2019
Phoenix Voters Nix Plan to Cap Spending, Divert Savings Toward Pensions
News You Can Use / Pensions & Public Funds
Phoenix Voters Nix Plan to Cap Spending, Divert Savings Toward Pensions

Voters in Phoenix, Arizona last week rejected Proposition 106, a ballot measure that would have imposed strict limits on city spending and earmarked revenue over the budget limit to paying down underfunded pension plans that cover retired city employees. According to the City of Phoenix, only 33.2% of voters supported the plan, while 66.8% voted against it. The initiative would have amended the city charter to add the following provisions: Pension and retirement healthcare liabilities and…

Comments Off on Phoenix Voters Nix Plan to Cap Spending, Divert Savings Toward Pensions
September 3, 2019
Summer Reader? Grab a MACo Classic from the Archives.
County Budgets / County News / Education / Intergovernmental Relations / Pensions & Public Funds / State Budget and Fiscal Issues
Summer Reader? Grab a MACo Classic from the Archives.

In addition to weekly updates on happenings in Maryland's counties and an ever-shifting set of policy areas, during the break from the legislative session, MACo's blog regularly features several deep-dive research series on topics of perennial importance to county governments.  Over the years, the contributors to MACo's blog have assembled the following series. Whether you are catching up on your reading this summer, or simply need something to help you fall asleep at night, you…

Comments Off on Summer Reader? Grab a MACo Classic from the Archives.
July 18, 2019
The Conversation on State Pension Funding and Policy Continues
Employee Benefits and Relations / Pensions & Public Funds
The Conversation on State Pension Funding and Policy Continues

There is a continuing public discourse regarding Maryland's public pension system. About half of Maryland's counties participate in Maryland's public pension system, meaning county employers are members of the System and county governments provide the System with contributions for those employees. Since 2012, all Maryland counties also share in the funding responsibility for Maryland's teacher pensions, one of the plans within the Maryland public pension system. This article excerpts from letters to the editor published…

Comments Off on The Conversation on State Pension Funding and Policy Continues
April 29, 2019
Older Posts →

© 2019 All rights reserved

Close Menu