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O'Malley creates task force on retirement security

Monday - 5/12/2014, 1:31pm  ET

ANNAPOLIS, Md. (AP) -- Gov. Martin O'Malley has created a task force to study how Maryland can improve retirement security for private-sector employees.

O'Malley on Monday announced that former Lt. Gov. Kathleen Kennedy Townsend will chair the task force. Townsend is the managing director at Rock Creek Group, an investment firm, and founder of the Center for Retirement Initiatives at Georgetown University.

The task force will make recommendations on steps the state can take to secure retirement for employees in the private sector.

The O'Malley administration says the task force will meet this year to consider ideas that could result in legislation, regulations or other initiatives.

The task force will be charged with issuing a report by Dec. 4.


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