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North Baltimore Journal

Wednesday, April 8, 2020

Maryland reports $4,031,817 in public pension contributions

Government

By Metric Media News Service | Mar 26, 2020

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As of June 2019, Maryland had received $4,031,817 in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $2,831,913 was in state pension funds, and the remaining $1,199,904 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not pay state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Maryland reported data from 79 pension systems, including 7 state-level pension funds and 72 local-level systems. The total number of pension system members was 295,244 (247,918 at the state level and 47,326 at the local level).

Contributions to Maryland's public pension funds
Local
State
Local & State
Employee contributions
$262,861
$795,898
$1,058,759
Government contributions
$937,043
$2,036,015
$2,973,058
State government contributions
$17,166
$2,036,015
$2,053,181
Local government contributions
$919,877
$0
$919,877
Total Contributions
$1,199,904
$2,831,913
$4,031,817
Source: US Census Bureau

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