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Md. Gov. O'Malley Names Members For Retirement Security Task Force

Maryland Gov. Martin O’Malley (D) has named the members of a panel charged with finding “…ways to better secure retirement savings for private-sector employees in Maryland.” Established by executive order in May and chaired by former Lt. Gov. Kathleen Kennedy Townsend (D), the task force brings together representatives from key sectors across the state to find ways to better secure retirement savings for private-sector employees in Maryland.

“This task force convenes some of the brightest minds in Maryland to tackle one of the toughest challenges facing our state: ensuring that Marylanders are able to enjoy a stable and secure retirement,” said O’Malley. “Far too many of our citizens are anxious about how they’re going to be able to afford to retire — I brought this group together to help address that.”

The task force will look for ways to “support stable, secure retirements for private sector employees in the state, which will in turn prevent dependency on government programs, create more consumers and inject more money into the state’s economy”.

According to the announcement, the group will begin meeting immediately and work to develop recommendations, present a report to the governor by Dec. 4, 2014, and then terminate on Feb. 15, 2014. The report will include “actionable steps to implement strategies that will address threats to retirement security in Maryland and devise a path toward retirement solvency for Maryland’s private-sector workforce”.

The task force is comprised of members of the General Assembly, the state treasurer, labor unions, and members of the financial services industry and small business community, including Gary Kleinschmidt, who currently serves as Director of Retirement Sales for Legg Mason Global Investment Management, and is a member of ASPPA and NAPA. 

The full membership list is available here