2016 News
Maryland State Retirement Agency reports returns in FY 2016
The Board of Trustees of the Maryland State Retirement and
Pension System (MSRPS) has been informed that net earnings
after fees on the $45.5 billion investment portfolio were
1.16 percent for the fiscal year ending June 30, 2016. While
performing better than several other major funds, this
year’s return was significantly below the plan’s long-term
actuarial target of 7.55%.
Spring 2017 Elections
Two elections will be conducted in Spring 2017 for seats on the Board of Trustees of the Maryland State Retirement and Pension System to choose an active Teachers’ System representative and an active Employees’ System representative. The seat for the active Teachers System representative is open to active members of the Teachers’ Retirement System or the Teachers’ Pension System.
“Think Tank’s” Poor Research Leads to Poor Conclusions
The Maryland Public Policy Institute (“MPPI”) has published a report by Jeff Hooke claiming that the Maryland State Retirement and Pension System (“System”) paid over a half-billion dollars in management fees in fiscal year 2015, cancelling out the tax revenue the state collected from the lottery and casino industries. And so he frames his poorly researched report with the spurious notion that the fees somehow negated the
Eligible retirees to receive cost-of-living adjustment (COLA) beginning with July 2016 payment
Retirees and beneficiaries of the Maryland State Retirement and Pension System will receive an increase in their retirement payment effective this July as the annual cost-of-living adjustment (COLA) takes effect.
For all eligible retirees who retired on or before July 1, 2015, the COLA increase will be 0.119%. 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.