"We had peace of mind, because we felt we'd have the kind of income so we didn't have to change our lifestyle," Gary Bassford said. "That whole process has been our road map ever since. We still live by that budget."
Maryland Attorney General Douglas F. Gansler filed a lawsuit against the oil company BP over investment losses following the 2010 Deepwater Horizon explosion, alleging that the state's pension fund lost millions after the company misled the public about its safety protocols.
"Many people are putting off retirement because of economic issues. We're also tending to live longer," says Dr. Steven Gambert, co-director of gerontology and geriatric medicine at the University of Maryland School of Medicine and director of geriatric medicine at the University of Maryland Medical Center. "People need to prepare ahead of time."
By By Laura Barnhardt Cech and For The Baltimore Sun
Treasurer Nancy K. Kopp and Comptroller Peter Franchot warned senators Wednesday that Gov. Martin O'Malley's proposal to divert $100 million a year from the state pension fund to next year's budget threatens the long-term health of the retirement system.
The Howard County Board of Education Thursday, Jan. 23, terminated its contract with United Healthcare, officially backing out of a Medicare Advantage Health Benefits plan that many retirees had criticized.
The Baltimore-based office of the U.S. Department of Veterans Affairs is the slowest in the country to process disability claims for servicemen and women, averaging about a year, and also makes more mistakes than any other office.