Maryland's public pension system is underfunded. Two years ago, teachers and state employees (through their unions) agreed to contribute 2% more from their pay checks in order to fund the public pension account. The State agreed to contribute $300 million per year to do their part. Taxpayers are required to fund the pension system so it is not an option to fund or not to fund.
The leadership in Annapolis has yet to keep their promise. Taxpayers can pay some now or a whole lot more later into the public pension system. The House Republican Caucus fought to make the leadership in Annapolis keep their promise and protect taxpayers from being on the hook for much more money in future years. However, the unions - AFSCME & the Maryland State Teachers Union- agreed to let the state put that money in the general fund account now and not pay their fair share! I'm sure the union members would be furious if they knew that their union leadership sold them out.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
That's because unions support Democrats. That shows you how stupid union leadership is.
Teachers are paid too much anyway. At least we can get the roads fixed with their money.
The current purpose of the union is to provide a slush fund for the Democratic party. The union "leaders" receive an obscene salary to be patsies for the Democratic party in order to provide re-election funds. What is sad is that non-Democrats are forced to pay union dues into this fund which supports a Party they disagree with.
Basically if you want a job, you have to pay the union; much like "protection money" as the mobs call it. I had to pay this protection money every two weeks from my paycheck and never once did a union "rep" do squat for me.
Wow really?
36-42k a year is too much? What a joke.
"I'm sure the union members would be furious if they knew that their union leadership sold them out."
Unfortunately we are dealing with a class of people who are either clueless as to what's going on or don't care because as long as things are okay today, why care about tomorrow.
I don't know how this person can make this statement -
O'Malley has kept the fund from being audited or allowed an examination by the public in regards to what he is doing with it and where it is vested..
I have been saying this since the Facebook IPO where so many liberal States put assets into the IPO that was a gigantic rip-off before 2 PM the day it went public.
We have no idea what Maryland's Public Service Pension Fund contributed to Morgan Stanley/ Zuckerburg's scam that day..
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