Melony Griffith
From Ballotpedia
| Melony Griffith | |
| Maryland House of Delegates District 25 | |
| Incumbent | |
| Assumed office 1998 | |
| Current term ends 2011 | |
| Political party | Democrat |
| Profession | Senior Program Officer, Academy for Educational Development, Washington, DC |
| Website | House site |
Pensions committee
Griffith is the House Chair of the Special Joint Committee on Pensions and has served in this position since 2007. She has been a member of the committee since 2003.
In November 2009, Maryland lawmakers learned how deep the pension gap was. Maryland's pension funds are missing the $17.5 billion more than the state has put aside (a total of $28.6 billion).[1]
The state will likely have to add $189 million to its teacher and employee pension funds by next year. Officials with the State Retirement Agency explained results from fiscal 2009 to the legislature. The $17.5 billion needed to close the gap is in addition to the approximately $28.6 billion that the pension office already has set aside.
The liabilities over a 25-year span, but there oversight committee members differ about how quickly the state should catch up. Del. Griffith said it’s not wise nor feasible to put aside much more than what is required next year.
“It’s far too early to make changes to the way that the system is funded,” Griffith said.
The big drop comes largely from an $8 billion investment loss last year. The state’s pension investments took a big hit during a year of market unease.[1]
External links
- Maryland House of Delegates - Rep. Melony Griffith
- Project Vote Smart profile
- Campaign contributions: 2008, 2006, 2004, 2002
- General Assembly’s Oversight Committee on Pensions
References
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