Tag: Maryland State Retirement and Pension System

Maryland State Retirement System Loses 3% in Fiscal Year 2022

Mary Pat Campbell

Lik: https://www.ai-cio.com/news/maryland-state-retirement-system-loses-3-in-fiscal-year-2022/

Graphic:

Excerpt:

The Maryland State Retirement and Pension System’s investment portfolio lost 2.97%, net of fees, for the fiscal year ending June 30, but beat its policy benchmark’s loss of 3.48%. As they have been for many pension funds, the results were a sharp turnaround from last year, when the MSRPS earned record returns of 26.7%.

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Although the fund missed its new assumed actuarial rate of 6.8% for the fiscal year, which became effective July 1, the portfolio’s three-, five- and 10-year returns were 8.4%, 7.9% and 7.8%, respectively.

Author(s): Michael Katz

Publication Date: 17 Aug 2022

Publication Site: ai-CIO

Marylanders Concerned about State’s Ability to Fund State Employee Pensions

Mary Pat Campbell

Link: https://www.mdpolicy.org/research/detail/marylanders-concerned-about-states-ability-to-fund-state-employee-pensions

Excerpt:

With Maryland’s state pension fund nearly $20 billion in the red, a new statewide survey from the Maryland Public Policy Institute reveals that a large majority of voters are concerned about the state’s ability to fund pension benefits for public employees. The survey of more than 500 registered Maryland voters gauged public sentiment on the health of the state pension system and found that two-thirds of Marylanders are worried that the state will have to raise taxes to ensure adequate funding. Read the full survey at mdpolicy.org. 

More than 400,000 former and current state employees depend on the Maryland State Retirement and Pension System, yet the system suffers from a $20.1 billion shortfall – or approximately $15,000 per Maryland resident.

Publication Date: 22 March 2021

Publication Site: Maryland Public Policy Institute