State pension commission to hold last meeting

Associated Press//July 7, 2011//

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ANNAPOLIS — A panel that has been studying the sustainability of pensions and benefits for state employees is holding its last scheduled meeting.

The Public Employees’ and Retirees’ Benefit Sustainability Commission is scheduled to meet Thursday in Annapolis.

The panel, which is chaired by former House Speaker Casper Taylor, is scheduled to vote on recommendations for its final report.

Changes to the state’s pension plan made by the General Assembly in April took effect this month. The amount of money state employees pay for retirement has gone up from 5 percent to 7 percent. State employees hired after July 1 will be vested in the retirement plan after 10 years, instead of five.

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