BALTIMORE (AP) — Baltimore city employees will contribute to their pension plans under a reform bill proposed by the mayor.
Mayor Stephanie Rawlings-Blake is proposing that city employees contribute 5 percent of their salaries toward their pension, phasing in the payment over five years. The mayor's office says salaries will also increase 10 percent over the same period
The reform is part of a plan to eliminate a $750 million budget shortfall and cut property taxes.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
