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2018 News

Press Release: MSRPS Earns 8.06% net of fees on Investments in FY 2018
New earnings limit exemption enacted for state retirees

Legislation passed this year by the Maryland General Assembly provides an additional exemption to the earnings limit for reemployed state retirees.

To be eligible for this exemption provided under Senate Bill 1252, a retiree must:

  1. Be retired under the Employees’ or Teachers’ Systems,
  2. Be reemployed by the same unit of Maryland state government from which he or she retired and
  3. Receive reemployment compensation that includes no Maryland state funds
Refunds are available for eligible retirees

Persons who retired on or after October 1, 1994, who were subsequently reemployed by the same Maryland state employer and whose compensation did not include any state funds are entitled to a return of the earnings that were offset by the Maryland State Retirement Agency.

The legislation was signed into law by Governor Lawrence J. Hogan, Jr., on May 8.

Frequently asked questions

Q. Is there a deadline for requesting a return of the earnings that were previously offset by the Retirement Agency?

A. Yes, retroactive request for refunds must be received by the Agency by June 30, 2019.

Q. What should I do if I think the exemption should have applied to me for a prior year’s earnings limitation?

A. Call your employer and ask them to contact the Retirement Agency to obtain a copy of Employer Certification of Exemption from Earnings Limitation for a Reemployed State Retiree Whose Compensation Does not Include any State Funds (Form 931). This form must be signed and dated by the employer’s appointing authority.

Q. In addition to my employer completing and submitting a Form 931 to the Retirement Agency, am I required to provide any additional information?

A. No. Your employer will be required to provide conclusive documentation to show that your compensation does not include any Maryland state funds.

Q. What happens if my exemption is approved?

A. If the Retirement Agency approves the exemption, you will be repaid all money due.

For questions, please contact a Retirement Benefits Specialist at 410-625-5555 or toll-free 1-800-492-5909.

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019 Retiree Prescription Drug Coverage Change.
Special BOT Election-Active Employees' System

A special election will be conducted in Spring 2018 for a seat on the Board of Trustees of the Maryland State Retirement and Pension System to fill an Employees’ System representative vacancy. The seat is open to active members of the Employees’ System only, and both active and retired members of the Employees’ system will be eligible to vote.

Each potential candidate must obtain the signatures and dates of birth of 500 persons who are eligible to vote in the election. Signatures must be on official nomination petitions.

Potential candidates may request a nomination packet from April 1, 2018 through April 30, 2018 by calling Megan Myers at 410-625-5608 or toll free at 1-800-492-5909. Completed nomination forms must be received at the Maryland State Retirement Agency no later than June 15, 2018 by 4:30 p.m. Eastern Time.

The successful candidate will serve a term in office from October 1, 2018 through July 31, 2021. For more information on the Board of Trustees, including member biographies, photos and committee assignments, please click here.

Federal tax reform may affect your January benefit

January benefit payments will reflect new federal tax withholding rates enacted as part of the federal Tax Cuts and Jobs Act of 2017. The tax reform bill was signed into law in December. To change your federal or Maryland state tax withholding, click here to access a Federal and Maryland State Tax Withholding Request (Form 766) and follow the instructions printed on the form.

Press Release: Maryland State Retirement and Pension System Call for Nominations for Public Member, Investment Committee