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...
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Tuesday, March 22, 2011
Leggett, Montgomery County unions spar over pension costs
The Washington Post: Leggett, Montgomery County unions spar over pension costs
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.