Governor Larry Hogan has announced that all employees across state government will receive a 4.5% cost of living adjustment increase, effective November 1st, as part of a series of measures to enhance statewide workforce recruitment and retention efforts. The announcement comes after official budget projections show that, for the second consecutive year, the state is reporting a multi-billion-dollar surplus. Overall, after inheriting a $5.1 billion structural deficit, the governor will leave office in January with a record $5.5 billion in reserves-a more than $10 billion swing in the state’s fiscal fortunes under his administration.