In the wake of the surprise election of Republican Larry Hogan to the Maryland governor’s mansion earlier this month, the task force established by outgoing Gov. Martin O’Malley (D) to study retirement plan access and potentially recommend a state-run automatic enrollment IRA program had its first post-election meeting Nov. 19.
According to O’Malley’s executive order forming the group, the work of the task force is set to end on Feb. 15, 2015, unless the new governor declares that it will remain in operation.
At the Nov. 19 meeting, State Sen. James Rosapepe (D-Prince George’s), addressed the possible consequences of the election for the task force. (Rosapepe spoke about the initiative at the NAPA Fly-in Forum on Sept. 30.) Rosapepe did not say whether he believes Hogan plans to “re-up” the task force, only that Hogan has said he does not wish to publicly engage on policy matters until he takes office. He added that if Hogan does not support their efforts, the group would probably approach the leaders of both houses of the General Assembly about continuing their mission via legislative authority.
The next meeting of the task force is scheduled for Dec. 1, when the group will hear about programs other states and countries have implemented to address retirement plan access problems.
Ray Harmon, Esq. is government affairs counsel for ASPPA/NAPA/NTSA.
