Maryland officials will vote on recommendations to change the state’s controversial method of funding its pensions on Wednesday.
The chosen recommendations will be included in the Joint Committee on Pension’s final report to the General Assembly, due in January.
Retirement benefits for state employees are currently funded at 63 percent over the next 30 years. In dollars, contributions for the benefits are roughly $18.4 billion short.
Pension officials are urging committee members to phase out a funding formula that has allowed the state to pay less money into the system than it owes for years.
