BALTIMORE (WBFF) — Questions are being raised about the future stability of Maryland’s pension system after a new report reveals it does not have enough funds to cover future payouts.
A recent analysis finds Maryland’s retirement system has only three-quarters of the funding needed to meet all pension obligations to retirees. This shortfall in pension funds points to a significant gap that could impact state finances and the ability to pay out promised benefits.
Jeremy Portnoy, Investigative Journalist with Open the Books joined Fox45 to weigh in on the impacts it could have for taxpayers.
DEVELOPING NOW: Maryland Pension System Lacks Funds Amid Stability Questions