image description

Split In Cost Of Teacher Pensions Would Be A Challenge To Local BOE

January 20th, 2012 by WCBC Radio

Governor  Martin O’Malley's plan to shift half of the cost of teacher pensions to Maryland counties has the potential to have devastating impacts on boards of education across the state- be it this year or next.  Maryland currently is one of the few states in the nation that picks up the entire teacher pension cost, which is projected to be about $900 million in the next fiscal year. The idea of sharing teacher-pension costs has been bubbling for years, as the state has faced budget constraints from the recession and its aftermath- but with the governor and Senate President Mike Miller both leading the charge-  it appears to be a likely scenario this year. According to the governor’s proposed budget released this week, Allegany County may have been looking at a loss of about $2.3 million as a result of the split- however a number of factors including a $1.6 million disparity should offset the potential cut.  School Board President Sara Beth James tells WCBC News that the governor’s plan is a bit difficult, whether it hit this year or next, is going to prove a challenge for the local board which is already working with a bare bones budget …





Leave a Reply

 




Sign up for WCBC
exclusive Text messages
by texting [WCBC] to 68398.





View Mobile Site