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Maryland’s O’Malley Floats Plan to Reform Pensions

Correction: The article incorrectly characterized Gov. Martin O’Malley’s pension reform plan. The governor has proposed reforms to Maryland's existing defined benefit plan.

WASHINGTON — Maryland Gov. Martin O’Malley on Friday released a pension reform plan to halt the state’s declining pension funding level, which is the lowest among triple-A rated states and has become a concern for rating agencies and investors.

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