Nominees Sought for State Police Representative on Board of Trustees

One election will be conducted in Spring 2018 for a seat on the Board of Trustees of the Maryland State Retirement and Pension System to choose a State Police Retirement System representative. The seat is open to active and retired members of the State Police Retirement System. Both active members and retirees of the State Police Retirement System will be eligible to vote.

The Board of Trustees of the Maryland State Retirement and Pension System today announced that its portfolio returned 10.02 percent on investments for the fiscal year that ended June 30, 2017—exceeding the 7.55 percent assumed actuarial return rate and the plan’s policy benchmark of 9.90 percent. The fund’s performance raised the assets of the system to $49.1 billion, an increase of $3.6 billion over last year.

The Board of Trustees of the Maryland State Retirement and Pension System (MSRPS) has voted to reduce incrementally the System’s actuarial assumed rate of return on its investments over the next two years from 7.55% to 7.45%. The Board approved the change at its Tuesday meeting and decided to reevaluate the rate in two years to determine if additional reductions will be necessary.

Retired Maryland teachers, state and municipal employees, correctional officers and police will notice an increase to their monthly retirement benefit in July as the annual cost-of-living adjustment (COLA) takes effect.

Members and retirees of the Maryland State Retirement and Pension System will elect an active Employees’ Systems representative to the System’s 15-member Board of Trustees in an election slated for the spring/summer 2017.

The Board of Trustees of the Maryland State Retirement and Pension System is calling for nominations for a public member to serve as an unpaid advisor to the retirement system’s Investment Committee for a three-year term beginning July 1, 2017. The term of the incumbent public member is due to expire on June 30, 2017.