“Think Tank’s” recent work of fiction
By Andrew Palmer, Chief Investment Officer


The Maryland Public Policy Institute (MPPI) recently published a report criticizing the level of management fees, transparency and asset allocation of the Maryland State Retirement and Pension System (System), as well as other state pension plans. Unfortunately, and consistent with past analyses, the report is poorly constructed, using inaccurate data, flawed methodologies and erroneous assumptions, leading to conclusions that have no practical application to the management of the System’s assets.