10.26.12

Page 1

HALLOWEEN ACTIVITIES

Parties on tap this weekend (and on Oct. 31, of course) for big kids, little kids and even pets! PAGE 49

OC COUNCIL CANDIDATES Incumbents Mary Knight and Doug Cymek, and council hopeful Philip Sayan weigh in on city’s future INTERVIEWS START ON PAGE 3

INSIDE THIS ISSUE: BUSINESS . . . . . . . . . 46 CLASSIFIED . . . . . . . . 78 ENTERTAINMENT . . . . 53 LEGALS . . . . . . . . . . . 80

LIFESTYLE . . . . . . . . . 49 OPINION . . . . . . . . . . 20 OUT&ABOUT . . . . . . . 69 SPORTS . . . . . . . . . . . 40

RESORT’S FALL RESTAURANT WEEK ENDS SUNDAY … PAGE 46

Ocean City Today WWW.OCEANCITYTODAY.NET

OCTOBER 26, 2012

SCOOTER CRUNCH

PINK PARTY! About 280 runners take off from the starting line in the inlet parking lot last Saturday during Ocean City’s second annual Making Strides Against Breast Cancer 5k event. Shortly after, more than 1,000 walkers hit the Boardwalk. The participants helped raise approximately $150,000 for the resort’s Pink Ribbon Classic series, which donates funds annually to the American Cancer Society. (At right) Athletic instructors lead participants in a zumba exercise prior to the morning’s races. See Page 51 for more Pink Ribbon Classic information.

OCEAN CITY TODAY/LISA CAPITELLI

Answer depends on age, investment market, philosophy and which think tank you ask

(Oct. 26 2012) Reading this paper’s multitude of interviews with City Council candidates – both this week and in weeks past – may cause one to wonder what exactly it is about the city’s retirement plan than makes it such rich fodder for political debate, or why exactly it seems that neither side of the city’s political

State-mandated insurance could put cap onOcean City’s seasonal rental operations

carry a level of insurance coverage that mimics the level of financial protection for motor(Oct. 26, 2012) Despite the cycles. “Basically, the insurance rehubbub earlier this year regarding the town of Ocean City’s quirement for scooters is very scooter regulations, it seems simple,” said Ocean City Police that new state-level requirements Department Public Information may end up having more of an Officer Mike Levy. “They have impact on the growth of the to meet the minimum for a motorcycle.” scooter rental The changes, industry in the “It’s been a bit of an according to the resort, by hitting rental busi- adventure even finding state, are intended to ennesses not [insurance]. There are sure rider safety through the just a limited number and accountazoning code, but bility. But in the in the wallet. of companies that low-cost, highA bevy of legwill underwrite in turnover world islative revisions of rental scootpassed through Maryland on this ers, the insurthe Maryland scale.” ance requireGeneral Asment in particsembly this RON CROKER ular has put a spring edge the owner of Waterways Marina damper on the safety and legal on 54th Street, about new statewide fiscal viability of requirements scooter regulations the industry. for scooters and “It’s been a mopeds closer to those placed on motorcycles. bit of an adventure even finding Riders and passengers must [insurance],” said Ron Croker, now wear helmets and eye pro- owner of Waterways Marina on tection. Scooters and mopeds 54th Street. “There are just a limmust also display a title sticker, ited number of companies that which can be acquired through will underwrite in Maryland on the Motor Vehicle Administra- this scale.” For an individual who owns tion and proves the origin and ownership of the machine. his own scooter, insurance is relScooters and mopeds must also See INSURANCE on Page 8 ZACK HOOPES ■ Staff Writer

ELECTION DEBATE: which pension plan is best? ZACK HOOPES ■ Staff Writer

FREE

aisle can agree on exactly what fiscal conservatism is when it comes to long-term funding. The devil is in the details – details that likely tie Ocean City closer to the national debate than does any other issue. Over the next 20 years, Ocean City will be going through an admittedly difficult period, as it transitions from a defined-benefit (DB) retirement plan to a defined-contribution (DC) system.

Under a DB system – the traditional pension - employees contribute a certain amount of their paycheck each week to a group retirement investment fund. The city also matches this with its own contribution. Upon retirement, employees are then paid a pre-defined fraction of their salary until death, in order to support them after they stop working. Since 1991, the city’s public safety employees have had a separate fund from the city’s general employees, due to the different See TRANSITION on Page 22


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