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2555
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HARRY HUGHES, Governor
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require further analysis; and
WHEREAS, The cost containment measures proposed include the
reduction of post-retirement benefit increases, the transfer
of retirement system members to less expensive pension
systems, and the allocation of a greater share of the
retirement system costs to local government employers and
employees;
NOW, THEREFORE, I, HARRY HUGHES, GOVERNOR OP THE STATE OF
MARYLAND DO HEREBY, UNDER THE POWER AND AUTHORITY VESTED IN
ME BY THE CONSTITUTION AND THE LAWS OF MARYLAND, ISSUE THE
FOLLOWING EXECUTIVE ORDER, EFFECTIVE IMMEDIATELY:
Section 1. Creation of Joint Legislative and Executive
Committee on Pensions
There is a Joint Legislative and Executive Committee on
Pensions composed of:
(a) Six members of the Senate of Maryland appointed by
the President of the Senate;
(b) Six members of the House of Delegates of Maryland
appointed by the Speaker of the House of Delegates;
(c) The Secretary of Budget and Fiscal Planning;
(d) The Secretary of Personnel; and
(e) One member of the Governor's staff appointed by the
Governor.
Section 2. Functions of Committee
(a) The Committee shall analyze both the projected costs
and expenses associated with the present retirement and
pension systems and the relationship of those costs and
expenses to the projected State General Fund revenues over
the same period, and, on the basis of that analysis, make
recommendations regarding:
(1) Changes to the indexed adjustments to the
benefits paid to retired members of the retirement and
pension systems;
(2) Implementation of cost-effective means to
encourage retirement system members to transfer to less
expensive pension systems;
(3) Changes in the allocation of the costs and
expenses of the retirement and pension systems among the
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