Maryland Daily Record Maryland's trusted source for business and legal news
The failures of two U.S. banks this month meant losses for U.S. public-sector pension systems that invested in them.
Read More »Public pension plan losses from bank failures seen as minor
Maryland lawmakers to seek pension divestment from Russia
Maryland lawmakers will introduce legislation to direct the state’s $70 billion pension system to divest its relatively small and rapidly declining assets in Russia in response to the war in Ukraine.
Tagged with: 2022 General Assembly session pensions
Read More »As state lawsuit draws to close, city pensioners’ federal case may resume
A federal judge reopened a case last week challenging aspects of Baltimore’s pension system for police and firefighters that had been stayed for more than two years while state litigation was pending. The plaintiffs, active and retired Baltimore first responders ...
Tagged with: Baltimore City fire department baltimore city police pensions retirement
Read More »Judge rules Baltimore pension changes breached contract with police, fire retirees
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 ...
Tagged with: Baltimore City fire department baltimore city police department pensions retirement plan
Read More »Supreme Court rejects NJ employees’ appeal over pension fund
WASHINGTON — The Supreme Court is refusing to disturb a ruling from New Jersey’s top court that sided with Gov. Chris Christie in a legal fight with public worker unions over pension funds. The justices did not comment Monday in ...
Tagged with: pensions Supreme Court
Read More »Md. task force calls for action on retirement savings
Maryland legislators should create a mandatory pension system for private-sector employees, says a report issued by a task force created to study the issue.
Tagged with: pensions retirement
Read More »Lockheed pension dispute on hold
Workers accuse the Bethesda-based defense contractor's investment manager of subjecting them to excessive fees and under-delivering on performance.
Tagged with: lockheed martin corp. pensions
Read More »Hogan won’t extend pension task force
The incoming governor said he will not extend the life of a task force created to recommend whether to set up a pension system for private-sector employees.
Tagged with: Larry Hogan pensions
Read More »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 ...
Tagged with: pensions
Read More »Gabriel J. Michael: How Marylanders can save
Americans are bad at saving. Our saving rates fall well below the majority of other OECD countries, despite the fact that we also lack a nationwide pension system.
Tagged with: maryland pensions savings
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