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Tag Archives: pensions

Judge rules Baltimore pension changes breached contract with police, fire retirees

(iStock/aluxum)

Changes Baltimore city made to the retirement plan for police and fire employees “retrospectively diminished” their benefits and constitute a breach of contract, a city judge has ruled. The 2010 revisions to the Fire and Police Employees’ Retirement System of ...

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Deficit shoots up for pension insurer

(AP) The federal agency that insures pensions for about 41 million Americans saw its deficit nearly double in the latest fiscal year. The agency said the worsening finances of some multi-employer pension plans mainly caused the increased deficit. At about ...

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Maryland to get $75M, plus consumer relief, under BofA settlement

(AP Photo/Matt Rourke, File)

Maryland’s share of the $17 billion Bank of America settlement includes $75 million in compensation for state and local governments and their pension plans — and that’s not counting the bank’s agreement to provide consumer relief via such things as mortgage forgiveness, community reinvestment and affordable rental housing.

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