The headline on your story about state employee pensions is misleading given that the legislature's plan hurts state workers calling for the state to reduce its payment into the employee pension system by $75 million ("House panel finds money for education, state employee pay raise," March 13).
The American Association of Retired Persons Maryland is concerned about his plan, as is Gov. Larry Hogan. We all know the argument: Maryland is unable to make its financial payment this budget season because the state is running a deficit and can't afford to make the payments.
Yet the state can't afford not to make its pension payments either. According to a report by the National Association of State Retirement Administrators, with support from the AARP, a state's failure to make a good-faith effort to fund its annual required contribution increases the future costs of funding the pension, undermines its long-term sustainability and endangers the commitments made to public employees.
Moreover, the study found that well-funded pension plans around the country consistently receive the annual required contribution to their pension systems. Making payments on time and in full is essential to ensure Maryland's commitment to taxpayers and state workers alike.
State employees have consistently made their pension payments on time and in full. It's unfair and unwise to change the terms for them at the end of the game, especially when they didn't cause the problem. AARP is fighting to ensure that all workers who have paid into the system over a lifetime of hard work have financial security in their retirement.
Tammy Bresnahan
The writer is the associate state director for advocacy at the AARP Maryland.