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Side effect: Pay increases lead to bigger pension bills

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A consequence of raising employee salaries is that employees' pensions are increased, too. Montgomery County has about 15,000 employees and retirees in its defined benefit and defined contribution plans, a pension system with about $3.4 billion in net assets as of June 30, according to its fiscal 2012 annual report. Pensions and employee costs are the biggest drivers of governments'...