TASK FORCE TO ENSURE RETIREMENT SECURITY FOR ALL MARYLANDERS

Kathleen Kennedy Townsend, Chair (chosen by Governor)

Appointed by Governor: Edward C. Bernard; Donna S. Edwards; Valerie Ervin; Howard S. Freedlander; Sarah E. Mysiewicz Gill; Steven Hill; Gary Kleinschmidt; Nailah Gobern Lee; Diane Oakley.

Appointed by Senate President: Joseph M. Getty; James C. Rosapepe.

Appointed by House Speaker: Samuel I. Rosenberg; Dana M. Stein.

Ex officio: Nancy K. Kopp, State Treasurer; Gloria G. Lawlah, Secretary of Aging; T. Eloise Foster, Secretary of Budget & Management; Dominick E. Murray, Secretary of Business & Economic Development; Leonard J. Howie III, Secretary of Labor, Licensing, & Regulation.

Staff: Donni M. Turner.

c/o Dept. of Labor, Licensing, & Regulation
500 North Calvert St., Baltimore, MD 21202 - 3651
(410) 230-6009, (410) 230-6008
e-mail: donni.turner@maryland.gov
web: www.dllr.state.md.us/retsecurity/

In May 2014, the Task Force to Ensure Retirement Security for All Marylanders was established by the Governor (Executive Order 01.01.2014.07).

The Task Force examined ways to ensure that private-sector employees in Maryland are financially secure in their retirement. Approaches of other states and countries that offer state-sponsored retirement savings plans for private-sector employees were reviewed by the Task Force. It also considered features of the plans, such as portability, security, lifetime payments, smoothing of returns to lower volitility, low costs, and low risks. Moreover, the Task Force recommended policies for the State to adopt and a plan to implement them.

The Task Force submitted its report to the Governor, Senate President, and House Speaker in February 2015.

Authorization for the Task Force ended February 15, 2015.

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