The chair of Maryland 529, the state’s troubled college savings plan, abruptly resigned from the board Friday, a day after a heated briefing before a joint committee in the House of Delegates during which the program was sharply criticized for recent failings.
Petros L. Tsirigotis, Maryland 529’s chair since last February, submitted his resignation to the other board members by e-mail just before 2 p.m., saying that the demands of the position have increased “over the past few years” and that “as a volunteer, this is too much for me to be able to commit to.”
“I believe that the best way I can serve the board is by moving aside and allowing others who have the ability to allocate the time and resources to lead the board through this year’s challenges, especially with regard to the Prepaid Trust, to do so,” Tsirigotis wrote.
The passing mention of the Maryland Prepaid College Trust, which has had problems since last year, was as close to he came to referencing recent complaints or the meeting Thursday with legislators from the Appropriations Committee and Ways and Means Committee, which share jurisdiction of the independent agency.
Anthony P. Savia, who took over as executive director of Maryland 529 just last summer, issued a statement on Tsirigotis’s sudden exit.
“The Maryland529 board and staff would like to thank Peter Tsirigotis for his dedication and service as the Maryland529 board chair and wish him well in his future endeavors,” Savia’s statement read. “Vice Chairman Geoffrey Newman will serve as the interim board chair until a new chairperson is elected at the February 23, 2023, board meeting.”
Efforts to reach Maryland Treasurer Dereck E. Davis and Comptroller Brooke E. Lierman, both Democrats who are ex-officio board members, were unsuccessful late Friday afternoon.
The politicians stole it just like they always do.
Every state every hand is corrupt. Not at Fed levels either, state and local levels too. We have seen it here on the shore for decades. Then the boo hoo apologies.
When there is an opportunity for greed, its followed by resignations.
SAD!
529 plans are just another way the government steals from taxpayers. Why should I have to help pay for someone else’s kid to go to college? The taxes that aren’t paid on 529 distributions for higher education expenses are tax dollars that then have to be made up for by taking them from somewhere/ someone else. Socialism much? It’s like tax deductions for charitable donations. Same thing. Why must I support someone else’s decision to support a charity that I might not want to support?