News

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Nominations Sought for Board of Trustees

Eligible members of the Maryland State Retirement and Pension System who wish to serve on the plan’s Board of Trustees may request nomination packets starting September 4 through December 4, 2020.

Eligible candidates will then vie for two Board seats in an election slated for spring 2021.

Each potential candidate must obtain the signatures and dates of birth of 500 persons who are eligible to vote in the election. Both active members and retirees of the applicable systems will be eligible to vote.

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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.

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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.

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Eligible retirees to receive 1.812% cost-of-living adjustment in July

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.

This year’s COLA rate is 1.812%.

The increased monthly benefit will be shown on the Automatic Deposit Advice mailed to the homes of all retirees on July 31.

Frequently asked questions

Q. Who qualifies to receive the COLA this July?

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SRPS is Open for Business During State of Emergency

Considering recent local developments related to the Coronavirus (COVID-19), the Maryland State Retirement Agency is taking precautions to ensure the health and safety of the participants we serve and our employees. As this situation continues to evolve, we will continue to follow all guidance from the  Governor’s Office, the State Department of Health, and the Centers for Disease Control and Prevention (CDC).

In-person meetings with retirement counselor suspended

News Release

Maryland State Retirement and Pension System
Calls for Nominations: Public Member, Investment Committee

BALTIMORE, MD (January 21, 2020) – 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, 2020. The term of the incumbent public member is due to expire on June 30, 2020. The committee meets four times each year on the third Tuesdays of February, May, September and November, in the System’s offices in Baltimore.