But the counties that run their own pension systems are in much better shape than the state of Maryland, with the exception of Prince George’s County.
The most under-funded retirement benefits continue to be health insurance for these retirees, which amount to $28 billion for state and local governments. Only a handful of county governments have tried to sock money away.
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5 comments:
Boy it sure is time to leave this mess the demojerks have laid on this sorry state called MD..better get house on market now before the s storm starts..cant get taxes out of welfare queens and illegals....i gotta go
Wait til this bomb drops....you haven't seen taxes, fees, fines, levies, surcharges, and police campaigns (for our, uh, safety) yet.
I know state employees are VERY confident (just like the Detroit retirees, who are now being offered......16 cents on the dollar. 16 cents!!). Politicians spend every dime they can get and then laugh at the chaos. Why? because they are going to get FULL pensions. You know who is going to pay them? Right. The same people they are robbing and driving into poverty. I'll bet YOUR guy will change things....muuhahahahahhahha. Keep cheering.
And that 28 billion dollar unfunded liability could easily be dwarfed to the new 'hypoticated amount' once the current stock market bubble corrects.
It is not a matter as to will it happen - but when. And when it does it is not going to be pretty because so many of the pensioners are going to get severely hurt.
They can have my 2% COLA back if it will help.
The time for the political class to honor themselves is coming to an end. When the wheels come off, the money they stole will not help them to escape the mops (ie there voter who used to get the free stuff). God save us!
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