Montgomery County’s pension and retiree health accounts are facing a long-term shortfall of more than $4.8 billion, and officials repeatedly have pulled back from difficult decisions needed to close the gap.The pension programs for the county and the school system are underfunded by about $1.3 billion, and retiree health funds are short by $3.5 billion, county records show.
County agencies have set aside just 3 percent of what they will need to cover health care for retirees. The pension funds, which have been in place much longer, are significantly underfunded...
Tuesday, March 22, 2011
Leggett, Montgomery County unions spar over pension costs
The Washington Post: Leggett, Montgomery County unions spar over pension costs
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I have a source in county government who tells me that the council is getting ready to purpose to the unions a plan to save the pension plans.
ReplyDeleteIf a retiree is agreeable to dying early then in twenty years any surviving heirs would be awarded 50% of what is owed over the next five years. The retiree would need to make the decision in 12 months.