Should Marylands counties bear more of the cost of funding teacher pensions?
Bond rating analysts recently called Maryland’s depleted retirement system a “credit challenge,” saying the $33 billion system has just 65 percent of the funds needed to meet future obligations. At current trends, Maryland’s teacher pension costs will soon outstrip the state’s current spending for the entire higher education system. There is no question that reforms are needed for the state to remain solvent, for our economy to improve, and for beneficiaries to be treated with fairness. As Governor, I will pursue a bipartisan solution with the General Assembly that is fair to both the beneficiaries of these programs and the taxpayers who finance them. I know this will not be easy, and am I prepared for serious discussions with the legislature about the fiscally responsible way forward. Most importantly, I believe all sides in this debate should be given equal thought and consideration before a final proposal is enacted. Q. What economic-development incentives are appropriate to attract
