Maryland's Black Hole Gets Bigger (Our Pension)

http://maryland-politics.blogspot.com/2009/11/marylands-black-hole-gets-bigger.html

This is a grim financial reality and will no doubt fuel more calls to pass down pension costs to the counties. But that ignores a central fact: the state’s pension fund is in trouble because of decisions made by the state government on benefits, contribution rates and investment allocations. Making the counties pay for the state’s mistakes is patently unfair. But regardless of which level of government has to fix the mess, one or both of two groups will get hit at the end of the day: public employees or the rest of us.