Finally, a little substance on pensions
In yesterday's debate O'Malley and Ehrlich offered a little more information on how they would/wouldn't fix Maryland's pension problem. Ehrlich said he would shift new state employees away from the traditional pension, which has a multibillion-dollar unfunded shortfall. O'Malley said he opposed such a move. As I said, a little. But, as with Ehrlich's statement on how he would finance the cut in the sales tax, give the former governor credit for giving voters information on how he would handle one of the tough choices of governing.
Ehrlich said he would move the state away from traditional pensions of defined benefits for new employees, while preserving the existing system for current employees. He said suburbs would have to shoulder some of the pension burden for teachers — a shift he said would need to be undertaken slowly and carefully.O'Malley said he would wait for a report from a commission studying the pension issue. After the debate, the governor reiterated that he does not favor defined contributions such as 401(k) and predicted that a "mix" of ideas would be needed to preserve the pension system.
Tuesday's column and a Wednesday Washington Post editorial had criticized them for ducking the issue.
Comments
And who pays for all of these commissions?
You and me babe. We know the problem, we know the problem cannot be fixed with a bunch of people holding meetings.
O'Malley's plan is to kick the can into a brick wall because the alley ends there?
All I know is this current path is not sustainable.
Posted by: Carole | October 15, 2010 10:26 AM
http://msrp.state.md.us/plancomparison2010rev.pdf
Maryland already has 401(k), 457(b) and 403(b) plans for state employees. and Ehrlich didn't say how he would make up the shortfall.
Posted by: Anonymous | October 15, 2010 10:37 AM
Is it one of those, "Blue Ribbon" commissions? Pabst has a "Blue Ribbon", and we know what kind of quality that is.
Posted by: Sparky | October 15, 2010 10:40 AM
Anon, probably w/ an internet "fee". Both are hucksters.
Posted by: Sparky | October 15, 2010 10:53 AM
Thanks Sparky.
The Ehrlich Administration will establish a “consensus commission,” a blue ribbon panel to recommend realistic ways to fund Maryland’s transportation system.
Posted by: Anonymous | October 15, 2010 10:58 AM
And that commission will undoubtedly come to a conclusion to build more roads. Who wants mass transit, then we'd have to ride w/ "those" people.
Posted by: Sparky | October 15, 2010 11:11 AM
So, you're demanding that the two people running for Governor create unnecessary friction with a blue-ribbon commission that is researching the nitty gritty details of the matter - and to make broad, under-researched statements on the issue that have a very high potential of jeopardizing the legitimacy of, or politicizing, their inevitable recommendations.
Brilliant. Well done Jay and the Post.
Posted by: PJ | October 15, 2010 12:08 PM
In the private sector pensions have been eliminated in many/most companies. Verizon, ATT & IBM have cut off pension additions and anyone under 15 years of service was moved to 401K/cash balance. this should also happen in the state, federal and county employees. Why should their pensions be shouldered on the public??
Posted by: python | October 15, 2010 4:27 PM
Jay, what substance again did OWE Malley offer? More smoke and mirrors of course, in otherwords, he offered nothing just like what he has done as Governor. A do nothing Governor who has failed Maryland miserably. Governor O'Shameless needs to go find another line of work, one that does not support Illegal Aliens and the highest tax burden in the country. Thank you O'Shameless for doing nothing.
Posted by: cecil calvert | October 15, 2010 6:30 PM
Speaking from the perspective of someone who can't stand O'Malley either personally or ideologically, I CAN'T STAND YOU IMBECILES WHO THINK YOU ARE BEING SMART, CUTE OR WITTY BY SAYING "OWE MALLEY."
Brief yourself on some substance so you don't come off as a talk radio listening sheep.
Posted by: Anonymous | October 16, 2010 11:25 PM
Speaking from the perspective of someone who can't stand O'Malley either personally or ideologically, I CAN'T STAND YOU IMBECILES WHO THINK YOU ARE BEING SMART, CUTE OR WITTY BY SAYING "OWE MALLEY."
Brief yourself on some substance so you don't come off as a Tea Party buffoon.
Posted by: Anonymous | October 16, 2010 11:26 PM