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Retirement Estimate and Furlough Information
The Maryland State Retirement Agency is experiencing a significantly increased volume of requests for retirement estimates. You can expect at least an eight week response time. The Agency is handling these in retirement date order. First priority is being given to retirement estimates with a July 1, 2010 or earlier effective date. Second priority is being given to retirement estimates with an August—December 2010 effective date.
Negative COLA for State Retirees Delayed One Year by Legislature
Governor Martin O’Malley has signed into law legislation that precludes an unprecedented negative cost of living adjustment (COLA) for state retirees and beneficiaries in fiscal year 2011, which begins July 1, 2010. Under the law, benefits will remain at their current levels and the negative cost of living adjustment that would have gone into effect, will instead be deducted from the positive COLA expected in fiscal year 2012.
Agency Seeks to Add Four Senior Investment Analysts
Investment Division Will Expand 25% with New Hires
The Maryland State Retirement Agency has begun a search to fill four Senior Investment Analyst positions within its Investment Division. These positions will work as part of a team that ensures prudent investment of the Maryland State Retirement and Pension System’s $35 billion in assets.
MSRPS Trust Grows More Than 20% in First Three Quarters of FY 2010
The Maryland State Retirement and Pension System today announced that its investment returns have grown 20.4% since the fiscal year began on July 1, 2009. Compared to the same time last year, the System’s returns have grown an impressive 34.6%. The Retirement System ended the third quarter on March 31, 2010 with a value of $33.7 billion—an increase of 3.6% over the previous quarter.
MSRPS Hires New Real Estate Consultant, Rehires Private Equity Consultant
The Maryland State Retirement Agency (SRA) today announced that it has signed two new five-year contracts with a real estate consultant and a private equity consultant to assist the Agency’s Investment Staff in the identification, evaluation, and monitoring the Agency’s alternative investment activities. Both contracts have two, one-year renewal options.
MSRA Earns 14.05% on Investments in FY 2010
Exceeds 7.75% assumed return
The Board of Trustees of the Maryland State Retirement and Pension System has been informed that its portfolio returned 14.05 percent on investments for the fiscal year that just ended June 30, 2010—exceeding the 7.75 percent assumed actuarial return rate. The performance raised the assets of the system to $31.848 billion.
Maryland State Retirement Agency Revises FY 2010 Earnings on Investments to 14.03%
Exceeds 7.75% assumed return
The Board of Trustees of the Maryland State Retirement and Pension System has been informed that its portfolio returned 14.03 percent on investments for the fiscal year that just ended June 30, 2010—exceeding the 7.75 percent assumed actuarial return rate. The performance raised the assets of the system to $31.84 billion. Earnings previously had been reported at 14.05%, but one of the System’s investment managers had mistakenly over-reported one of their holdings for the month of June, resulting in the slightly downward revision.