Hogan Moves to Suspend $50 Million Supplement to Pension System

By Dan Menefee

For MarylandReporter.com

In his State of the State speech Wednesday, Gov. Larry Hogan worried about the state’s pension system’s $20 billion unfunded liability, and urged legislators to pass a new pension option like a 401(k) for new employees.

But in his fiscal 2018 budget, the governor withholds a mandated $50 million supplement to the State Retirement and Pension System due to declining revenue estimates that have left a slim $70 million surplus in fiscal 2017.


READ MORE HERE: http://marylandreporter.com/2017/02/01/hogan-moves-to-suspend-50-million-supplement-to-pension-system/