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The importance of Rawlings-Blake's pension reform
The importance of Rawlings-Blake's pension reform

Baltimore's active and retired police officers and fire fighters got a good bit of news this week with the release of an annual report on their pension system's finances. Thanks to strong investment returns and increased contributions from both the city and plan members, the system's net liabilities are shrinking and its funding ratio — the amount of current and future benefits it could cover — jumped from 69.2 percent to 74.2 percent. Considering the nosedive the system's funding took during the recession and the difficulties state and local governments are facing nationwide to afford their commitments to retirees, it should be comforting to the more than...