News
Maryland State Retirement Agency Names Thomas Kim as New Deputy CIO
August 26, 2024
BALTIMORE, MD — Executive Director Martin Noven announced this week that Thomas Kim has been selected to serve the Maryland State Retirement Agency (SRA) as joint Deputy Chief Investment Officer (CIO) for the Maryland State Retirement and Pension System (SRPS). Kim will report to the agency’s Chief Investment Officer Andrew Palmer, and work alongside Deputy CIO Robert Burd, providing strategic direction and counsel across the entire investment portfolio.
Maryland State Retirement and Pension System Successfully Exceeds Annual Benchmark, Delivering 6.93% FY 2024 Return
August 20, 2024
BALTIMORE, MD — The Maryland State Retirement and Pension System (SRPS) reported to its Board of Trustees today that the System generated a 6.93% return for fiscal year ending June 30, 2024, topping its actuarial rate of return by 13 basis points and beating its policy benchmark by 59 basis points. This latest return demonstrates the agency’s track record of consistently meeting or exceeding its benchmarks for long term performance.
Eligible retirees to receive up to 4.116% cost-of-living adjustment in July
February 27, 2024
Eligible payees (retirees and beneficiaries) of the Maryland State Retirement and Pension System will notice a boost in their monthly allowance beginning in July as the 2024 cost-of-living adjustment (COLA) takes effect.
This year’s COLA rate of 4.116% exceeds the statutory rate caps that apply to all or a portion of the allowance payable to most payees. The information below summarizes the COLA rate that generally applies to payees of the various State systems:
Correctional Officers’ Retirement System
Maryland State Retirement and Pension System Seeks Nominees to Serve as a Public Member of the Investment Committee
BALTIMORE, MD (January 3, 2024) – The Board of Trustees of the Maryland State Retirement and Pension System is seeking 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, 2024. The term of the incumbent public member is due to expire on June 30, 2024. The committee meets four times each year on the third Tuesdays of February, May, September, and November, typically in the System’s offices in Baltimore.