2014 News
MSRA Takes on Latest MPPI Analysis
Those who in the past have claimed that our assumed rate of return of 7.7% was too high, now criticize us for having earned 14.4% in the most recent fiscal year. The latest report published by The Maryland Public Policy Institute makes several mischaracterizations about the Maryland State Retirement and Pension System that warrant clarification. The report begins by describing Maryland’s investment performance for the year ending June 30, 2014 as sub-par. Over this time period, the fund earned a return of +14.37% net of fees, exceeding the actuarial assumed rate of return of 7.70%.
State Retirement’s Chief Investment Officer Taking a New Position
A. Melissa Moye, Ph.D. will be leaving the Maryland State Retirement and Pension System (MSRPS) as Chief Investment Officer (CIO) later this month.
Maryland State Retirement Agency Reports 14.37% Investment Return in FY 2014
The Board of Trustees of the Maryland State Retirement and Pension System has been informed that it’s portfolio returned 14.37 percent- net of investment manager fees- on investments for the fiscal year ending June 30, 2014, exceeding the funds 7.7 percent actuarial target return.
Do You Have Abandoned Funds at the System?
The Maryland State Retirement Agency wants to find former public employees who didn’t work long enough to best for a state pension benefit and return to them the contributions they made to the system.
Eligible Retirees to Receive 1.465% COLA Beginning July 2014
Eligible retirees and beneficiaries of the Maryland State Retirement and Pension System will receive a 1.465% increase in their retirement payment in July 2014 as the annual cost-of-living adjustment (COLA) takes effect. Since this year’s COLA rate does not exceed the system limit or cap in place for retirees of the Pension System, all eligible retirees will receive the full COLA applied to their monthly benefit payable July 31, 2014.
Members who retired after July 1, 2013 are not eligible for a COLA until they have been retired one full year as of July 1.