Investments & Financials
Investments & Financials
The Investment Division is responsible for investing the assets of the System. The investment portfolio is diversified into several asset classes and holds a number of investments within each asset class. In the long run, a well-diversified portfolio determines our long-term performance and ensures that any weaknesses in one area are offset by gains in another. The Board has adopted a strategic asset allocation policy that targets the percentage of funds to be invested in each asset class.
Annual Financial Reports
Every December, the Agency produces an Annual Comprehensive Financial Report that provides information on the financial status of the System for the fiscal year (July 1-June 30) that just ended.
Actuarial Valuation Reports
Valuation reports are prepared annually by the Agency’s actuary to:
- Measure the financial position of the System with regard to funding,
- Provide the Board with contribution rates, and
- Analyze the aggregate experience of the System over the previous year.
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- Cheiron Audit
- State
- Municipal
- Mercer Audit
- State
- Municipal
- 2006 Combined
- 2005 Combined
- 2004 Combined
- State
- Municipal
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- Municipal
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- Read more
Fiscal Year Quarterly Performance Reports
The report includes return and risk characteristics on a quarterly basis.
Fiscal Year Quarterly Updates
The report highlights the System’s market value and allocation by asset class on a quarterly basis.
- June 30, 2018
- March 31, 2018
- December 31, 2017
- September 30, 2017
- June 30, 2017
- March 31, 2017
- December 31, 2016
- September 30, 2016
- June 30, 2016
- March 31, 2016
- December 31, 2015
- September 30, 2015
- June 30, 2015
- March 31, 2015
- December 31, 2014
- September 30, 2014
- June 30, 2014
- March 31, 2014
- December 31, 2013
- September 30, 2013
- June 30, 2013
- March 31, 2013
- December 31, 2012
- September 30, 2012
- June 30, 2012
- March 31, 2012
- December 31, 2011
- September 30, 2011
- June 30, 2011
- March 31, 2011
- December 31, 2010
- September 30, 2010
- June 30, 2010
- March 31, 2010
- December 31, 2009
- September 30, 2009
- June 30, 2009
- March 31, 2009
- December 31, 2008
- September 30, 2008
- June 30, 2008
- March 31, 2008
- September 30, 2018
- December 31, 2018
- March 31, 2019
- June 30, 2019
- September 30, 2019
- December 31, 2019
- March 31, 2020
- June 30, 2020
- September 30, 2020
- December 31, 2020
- March 31, 2021
- June 30, 2021
- September 30, 2021
- December 31, 2021
- March 31, 2022
- June 30, 2022
- September 30, 2022
- December 31, 2022
- March 31, 2023
- June 30, 2023
- September 30, 2023
- December 31, 2023
- March 31, 2024
- June 30, 2024
- Read more
ESG Risk Committee Reports
The report documents the Environmental, Social and Governance activities of the System including how our diligence and oversight practice address ESG risks.
ESG Risk Committee Report - February 2022
Diversity, Equity and Inclusion
The Maryland State Retirement and Pension System is committed to diversity, equity and inclusion in all aspects of the administration and management of the investment program for the System.
We believe that our decision-making process can be improved by incorporating a diverse set of perspectives and experiences.
Divestiture Reports
Iran and Sudan
Semi-annually the Agency reports on the divestment action in relation to Iran and Sudan in compliance with statute 21-123.1.
The Iran-Sudan Divestment statute can be found at: 21-123.1.
- Iran-Sudan Divestiture Report 2018-03
- Iran-Sudan Divestiture Report 2017-09
- Iran-Sudan Divestiture Report 2017-03
- Iran-Sudan Divestiture Report 2016-09
- Iran-Sudan Divestiture Report 2016-03
- Iran-Sudan Divestiture Report 2015-10
- Iran-Sudan Divestiture Report 2015-03
- Iran-Sudan Divestiture Report 2014-10
- Iran-Sudan Divestiture Report 2014-03
- Iran-Sudan Divestiture Report 2013-09
- Iran-Sudan Divestiture Report 2013-03
- Iran-Sudan Divestiture Report 2012-09
- Iran-Sudan Divestiture Report 2012-03
- Iran-Sudan Divestiture Report 2011-09
- Iran-Sudan Divestiture Report 2011-03
- Iran-Sudan Divestiture Report 2010-09
- Iran-Sudan Divestiture Report 2010-03
- Iran-Sudan Divestiture Report 2009-11
- Iran-Sudan Divestiture Report 2009-09
- Iran-Sudan Divestiture Report 2018-09
- Iran-Sudan Divestiture Report 2019-03
- Iran-Sudan Divestiture Report 2019-09
- Iran-Sudan Divestiture Report 2020-03
- Iran-Sudan Divestiture Report 2020-09
- Iran-Sudan Divestiture Report 2021-04
- Iran-Sudan Divestiture Report 2021-10
- Iran-Sudan Divestiture Report 2022-04
- Iran-Sudan Divestiture Report 2022-10
- Iran-Sudan Divestiture Report 2023-04
- Iran-Sudan Divestiture Report 2024-04
- Russia Divestiture Report 2024-04
- Iran-Sudan Divestiture Report 2024-10
- Read more
Maryland Pension Risk Mitigation Act Risk Assessment
State law requires that the Board of Trustees of the System (the “Board of Trustees”) provide an assessment that shall identify recent studies or actions by other United States public pension plans, financial institutions, or risk experts, including those related to disclosure, risk assessment, investment principles, or other related issues or activities.
2024
Maryland Pension Investment Climate Risk Assessment
2023
Maryland Pension Risk Mitigation Act Risk Assessment
2022
Maryland Pension Risk Mitigation Act Risk Assessment
2021
Maryland Pension Risk Mitigation Act Risk Assessment
2020
Maryland Pension Risk Mitigation Act Risk Assessment
2019
Manager and Broker Opportunities
The Investment Division of the Maryland State Retirement Agency has developed a convenient way for offerors to submit online proposals to provide investment management or brokerage services by completing the appropriate questionnaire below. Minority Business Enterprises (MBEs) are encouraged to pursue manager and broker opportunities with the Maryland State Retirement and Pension System.
Optional Retirement Program
Outlines the available vendors, benefits handbook and performance of the Optional Retirement Program.
The ORP is a defined contribution plan open only to eligible faculty and administrators of Maryland public institutions of higher education and community colleges.
- Optional Retirement Program Plan Document
- First Amendment
- 31 December 2017
- 31 December 2015
- 31 December 2013
- June
- March
- December
- September
- June
- March
- December
- September
- June
- March
- December
- September
- June
- March
- December
- September
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- December
- September
- June
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- December
- September
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- December
- September
- June
- March
- December
- September
- June
- September
- December
- March
- June
- September
- December
- March
- Second Amendment
- 31 December 2019
- Notice to ORP Participants - Fund Changes Sep2020
- June
- September
- December
- March
- June
- September
- December
- 31 December 2021
- March
- June
- September
- December
- March
- June
- September
- December
- March
- 31 December 2023
- June
- Notice to ORP Participants-Fund Changes December 2024
- Read more
Post-Retirement Health Benefits Trust
Quarterly Investment Update
2024
2023
2022
2021
2020
2019<
- March 31, 2019
- June 30, 2009
- September 30, 2009
- December 31, 2009
- March 31, 2010
- June 30, 2010
- September 30, 2010
- December 31, 2010
- March 31, 2011
- June 30, 2011
- September 30, 2011
- December 31, 2011
- March 31, 2012
- June 30, 2012
- September 30, 2012
- December 31, 2012
- March 31, 2013
- June 30, 2013
- September 30, 2013
- December 31, 2013
- March 31, 2014
- June 30, 2014
- September 30, 2014
- December 31, 2014
- March 31, 2015
- June 30, 2015
- September 30, 2015
- December 31, 2015
- March 31, 2016
- June 30, 2016
- September 20, 2016
- December 31, 2016
- March 31, 2017
- June 30, 2017
- September 30, 2017
- December 31, 2017
- March 31, 2018
- June 30, 2018
- September 30, 2018
- December 31, 2018
- March 31, 2009
- June 30, 2019
- September 30, 2019
- December 31, 2019
- Read more
Proxy Vote Record
Reports Outlining How The System Voted On Public Corporation Proxy Ballots During The Year.
- Proxy Vote Record-July 2018
- Proxy Vote Record-June 2018
- Proxy Vote Record-May 2018
- Proxy Vote Record-April 2018
- Proxy Vote Record-March 2018
- Proxy Vote Record-February 2018
- Proxy Vote Record-January 2018
- Proxy Vote Record-December 2017
- Proxy Vote Record-August 2018
- Proxy Vote Record-September 2018
- Proxy Vote Record-October 2018
- Proxy Vote Record-November 2018
- Proxy Vote Record-December 2018
- Proxy Vote Record-January 2019
- Proxy Vote Record - February 2019
- Proxy Vote Record-March 2019
- Proxy Vote Record-April 2019
- Proxy Vote Record-May 2019
- Proxy Vote Record-June 2019
- Proxy Vote Record-July 2019
- Proxy Vote Record-August 2019
- Proxy Vote Record- September 2019
- Proxy Vote Record-October 2019
- Proxy Vote Record -November 2019
- Proxy Vote Record - December 2019
- Proxy Vote Record - January 2020
- Proxy Vote Record - February 2020
- Proxy Vote Record - March 2020
- Proxy Vote Record-April 2020
- Proxy Vote Record-May 2020
- Proxy Vote Record-June 2020
- Proxy Vote Record - July 2020
- Proxy Vote Record - August 2020
- Proxy Vote Record - September 2020
- Proxy Vote Record - October 2020
- Proxy Vote Record - November 2020
- Proxy Vote Record - December 2020
- Proxy Vote Record - January 2021
- Proxy Vote Record - February 2021
- Proxy Vote Record - March 2021
- Proxy Vote Record- April 2021
- Proxy Vote Record-May 2021
- Proxy Vote Record - June 2021
- Proxy Vote Record - July 2021
- Proxy Vote Record - August 2021
- Proxy Vote Record - September 2021
- Proxy Vote Record - October 2021
- Proxy Vote Record-November 2021
- Proxy Vote Record - December 2021
- Proxy Vote Record - January 2022
- Proxy Vote Record - February 2022
- Proxy Vote Record - March 2022
- Proxy Vote Record - April 2022
- Proxy Vote Record - May 2022
- Proxy Vote Record - June 2022
- Proxy Vote Record - July 2022
- Proxy Vote Record - August 2022
- Proxy Vote Record-September 2022
- Proxy Vote Record-October 2022
- Proxy Vote Record-November 2022
- Proxy Vote Record-December 2022
- Proxy Vote Record-January 2023
- Proxy Vote Record-February 2023
- Proxy Vote Record - March 2023
- Proxy Vote Record - April 2023
- Proxy Vote Record - May 2023
- Proxy Vote Record - June 2023
- Proxy Vote Record - July 2023
- Proxy Vote Record - August 2023
- Proxy Vote Record - September 2023
- Proxy Vote Record - October 2023
- Proxy Vote Record - November 2023
- Proxy Vote Record - December 2023
- Proxy Vote Record - January 2024
- Proxy Vote Record - February 2024
- Proxy Vote Record - March 2024
- Proxy Vote Record - April 2024
- Proxy Vote Record - May 2024
- Proxy Vote Record -June 2024
- Proxy Vote Record - July2024
- Proxy Vote Record - August 2024
- Proxy Vote Record - September 2024
- Proxy Vote Report - October 2024
- Proxy Vote Report - November 2024
- Read more
Contact the Investment Division
This web form is for inquiries about our investment fund. For general questions about your retirement account or monthly benefit, click here.