Invitation for Bids (IFB)- Shredding and Recycling Services

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%.

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. The seat for the active Employees System representative is open to active members of the Correctional Officers’ Retirement System, the Employees’ Retirement System, the Employees’ Pension System, the Judges’ Retirement System, the Legislative Pension Plan, the Local Fire and Police System or the Law Enforcement Officers’ Pension System. Both active members and retirees of the respective systems will be eligible to vote.

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
state’s gaming revenue. In fact, the fees helped the system generate over $800 million in additional net return, reducing the impact of a poor investment market on state finances. It also misleads the reader into believing that the System’s investment costs are paid out of the State’s General Fund when in fact, they are paid out of the System Trust Fund.

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.