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Senate Budget Panel Decides to Use Pension Money to Fill Holes

March 11th, 2014 by WCBC Radio

More money once planned to reinvest in Maryland's state employee pension system is being tapped to fill a state budget hole. A Senate budget panel made the decision Friday. Under pension reform three years ago, Maryland was to pay $300 million above its required pension payment each year to move gradually to fully funding the pension system. Governor  Martin O'Malley proposed capping the payment at $200 million this year to help fill a budget gap.  Committee Chairman Ed Kasemeyer told WBAL News that this would not hurt the pension fund…





 

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