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SPECIAL NOTICE: Due to the current COVID-19 pandemic, all Board of Trustees and Committee meetings will be conducted entirely via teleconference. There will be no public access to the Maryland State Retirement and Pension System, SunTrust Building, 120 East Baltimore Street, Baltimore, MD 21201. Board and Committee members, presenters and staff will participate via conference call.
Organizational Structure
Board of Trustees
Nancy K. Kopp
State Treasurer, Chair
Peter Franchot
Comptroller of the Treasury, Vice Chair
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Monte Tarbox
Public Advisor to the Investment Committee
Term: July 1, 2021—June 30, 2024
Public Advisor since 2018
Monte Tarbox is the Executive Director, Investments for the National Electrical Benefit Fund (NEBF) which provides pension benefits to IBEW members and the electrical industry nation-wide. NEBF has over 500,000 participants, over 9,000 contributing employers and assets of $14 billion. At NEBF, he is responsible for the investment program, including asset allocation, investment policy and oversight of external investment managers. Mr. Tarbox has over 27 years of experience as an investment officer and advisor serving multi-employer pension funds and other institutional investors in the United States and Australia.
Martin Noven
Executive Director of the Maryland State Retirement and Pension System
July 1, 2021—Present
Martin Noven is Executive Director of a multi-employer pension system that administers retirement, disability and death benefits for more than 400,000 active, vested and retired Maryland State and municipal government employees, teachers, state troopers, correctional officers, law enforcement officers, judges and legislators. In this role, he also oversees an investment fund valued at nearly $67 billion. Mr. Noven took office July 1, 2021.
Douglas Prouty
Trustee since August 1, 2017
Term: August 1, 2021—July 31, 2025
- Vice Chair, Corporate Governance and Securities Litigation Committee
- Member, Investment Committee
Douglas Prouty was elected by members and retirees of the Teachers’ Systems. An English teacher at Richard Montgomery High School in Rockville, Mr. Prouty has taught in Montgomery County Public Schools for more than two decades. In addition to serving as the county’s Career Lattice Coordinator he is an at-large member of the Board of Directors for the Maryland State Education Association. He also served as President of the Montgomery County Education Association from 2009 to 2015.
Richard E. Norman
Trustee since August 1, 2014
Term: August 1, 2018—July 31, 2022
- Vice Chair, Administrative Committee
- Vice Chair, Audit Committees
- Member, Investment Committee
Richard E. Norman retired at the rank of Captain from the Maryland State Police after 28 years of service. Mr. Norman joined the Maryland State Police in January 1977 and after graduation worked as a uniformed road patrol officer for two years. He then worked as a criminal investigator for the next 18 years specializing in narcotics, white collar crime and child abuse investigations. Mr. Norman also served as the Assistant Commander of the Rockville Barrack for three years. In 1994 he became a licensed Certified Public Accountant and was assigned to the Budget and Finance Section, overseeing the department’s budget. Mr. Norman spent approximately six years as the Commander of the Budget and Finance Section of the Maryland State Police.