Extra Pension Payments Cut By Senate Committee To Balance Budget
The Senate Budget Committee voted Friday to take $500 million over the next five years from extra payments into the state pension system to balance the budget this year and for the next four.
The money comes from annual $300 million supplemental payments into the state retirement and pension system promised in 2011 when legislators forced state employees and teachers to increase salary deductions for their pensions and pension benefits were reduced for future employees.
“I know how we agonized over this,” said Sen. Jim Robey, D-Howard, who made the motion to amend the Budget Reconciliation and Financing Act.
cease with defined benefit pensions and institute a 401 K program with matching funds from the state equal to the employees contribution. THis is not 1970 anymore and this type of pension cannot sustain itself.
The state needs to quit robbing pension funds to balance the budget. They have already forced the Counties to pay into the pension fund now. Robey is a Democrat and he says all these touchy feely things to make him sound compassionate, but he is screwing those that voted for him. I guarantee you he was supported and endorsed by a teachers union. I bet Norman Conway didn't fight this. You people need to wake up and quit voting for Democrats. Do not vote for a Democrat. Do not vote for an Independent or a Third Party or you will basically be voting for the Democrat. Please vote Republican straight down the line.
Awesome unions getting what they deserve..of course now that he is leaving he no longer neede thier support....suckers...serves em right for supporting demoturd libtards
Robey is "agonized" over this? Give me an effing break. People of Maryland - PLEASE WAKE UP.
ReplyDeleteThese politicians are robbing us blind.
robbing Ivan to pay Vladimir - apparatchiks stealing from themselves - priceless
ReplyDeleteHow much of their pension is going into this fund?
ReplyDeletecease with defined benefit pensions and institute a 401 K program with matching funds from the state equal to the employees contribution. THis is not 1970 anymore and this type of pension cannot sustain itself.
ReplyDeleteThe state needs to quit robbing pension funds to balance the budget. They have already forced the Counties to pay into the pension fund now. Robey is a Democrat and he says all these touchy feely things to make him sound compassionate, but he is screwing those that voted for him. I guarantee you he was supported and endorsed by a teachers union. I bet Norman Conway didn't fight this. You people need to wake up and quit voting for Democrats. Do not vote for a Democrat. Do not vote for an Independent or a Third Party or you will basically be voting for the Democrat. Please vote Republican straight down the line.
ReplyDeleteThe state is just robbing pension funds and 401k's to get there before the FEDERAL govt does..
ReplyDeleteAwesome unions getting what they deserve..of course now that he is leaving he no longer neede thier support....suckers...serves em right for supporting demoturd libtards
ReplyDelete