Search: 08/2020
Results
MSRPS Announces New Committee Leadership
Baltimore, MD (August 27, 2020) — State Treasurer Nancy K. Kopp, Chair of the Maryland State Retirement and Pension System (MSRPS) Board of Trustees, today announced new assignments to the Board’s Administrative and Investment Committees, effective August 1, 2020 to July 31, 2021. The management, general administration and proper operation of the system are vested in a 15-member Board of Trustees—a combination of elected, appointed, and ex-officio members, including the Secretary of the Department of Budget and Management, the State Comptroller, and the State Treasurer.
The Maryland State Retirement and Pension System Earns 3.6% During Volatile FY 2020
Fund grows $563 million to nearly $55 billion
Baltimore, MD (August 14, 2020) — The Board of Trustees of the Maryland State Retirement and Pension System (MSRPS) today announced that its portfolio returned 3.57%, net of fees, on investments for the fiscal year that ended June 30, 2020. The fiscal year returns reflect the ongoing impact of the COVID-19 pandemic on global markets. Although the fiscal year earnings fell short of the System’s 7.40% assumed actuarial return rate, it exceeded the policy benchmark of 3.14% by 43 basis points.
Maryland State Retirement & Pension System Earns 6.46% on Investments in FY 2019
Baltimore, MD (July 31, 2019) — The Board of Trustees of the Maryland State Retirement and Pension System today announced that its portfolio returned 6.46% percent, net of fees, on investments for the fiscal year that ended June 30, 2019—falling short of the System’s 7.45% assumed actuarial return rate. The fund’s performance raised the system’s assets to $54.2 billion, an increase of $2.4 billion over last year.
Eligible retirees to receive cost-of-living adjustment in July
April 18, 2019
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.
For retirees from the Employees’ or Teachers’ Retirement System OR persons who retired on or before July 1, 2011, the COLA rate is 2.443%.
State Retirement Board Reduces Actuarial Assumed Rate of Return
Rate reduced from 7.45% to 7.40% by Fiscal 2021
Baltimore, MD (July 26, 2019) —The Board of Trustees of the Maryland State Retirement and Pension System (MSRPS) today voted to reduce the System’s actuarial assumed rate of return on its investments from 7.45% to 7.40%. The System’s lower rate will be effective beginning in fiscal year 2021.