For immediate release:
August 21, 2025  

Contact: Katherine Morris
kmorris@sra.state.md.us

BALTIMORE, MD — The Maryland State Retirement and Pension System (SRPS) Board of Trustees formally welcomed its newest members during the Board’s August 19 meeting. At the session, Vice Chair and Comptroller Brooke E. Lierman introduced the three new trustees, who each shared their background and perspectives with the Board.  

The trustee appointments, along with the addition of a new public advisor to the Investment Committee, reflect a refreshed governance structure as of the start of the fiscal year. Trustee Vernon A. Reid, Jr., Trustee Scott Nicewarner, and Public Advisor Joanna Pratt each began their terms on July 1, 2025. Trustee Vickrant Puri began his term on August 1, 2025, and was formally welcomed at the August 19 meeting alongside the other new trustees.  Full bios of the trustees are available on the system’s website at sra.maryland.gov/board-trustees.  

– Vickrant Puri – elected by active and retired members of the Teachers’ Systems. A Baltimore County Public Schools personal finance teacher, Trustee Puri brings both classroom experience and prior banking industry expertise. He joins the Investment Committee and the Corporate Governance and Securities Litigation Committee. His term runs from August 1, 2025 through July 31, 2029.

– Vernon A. Reid, Jr. – a gubernatorial appointee and retired investment professional with decades of experience at T. Rowe Price and in fixed income portfolio management. Trustee Reid joins the Administrative Committee. His term runs from July 1, 2025 through June 30, 2029.

– Scott Nicewarner – a gubernatorial appointee and City Administrator of Hagerstown with more than 30 years of public and private sector leadership experience. Trustee Nicewarner will serve on the Audit and Administrative Committees. His term runs from July 1, 2025 through June 30, 2029. 

– Joanna Pratt – appointed as Public Advisor to the Investment Committee, effective July 1, 2025, following the departure of Michael K. Barry. Ms. Pratt is a seasoned investment leader with more than 20 years of experience managing endowments and foundations, including senior roles at Investure, Johns Hopkins University, Stanford Management Company, and Citadel Investment Group. She holds an MBA from Stanford University, an AB in Economics from Princeton University, and the Chartered Financial Analyst (CFA) designation. Ms. Pratt’s term runs through June 30, 2028.

Public Advisors are selected by the Board for three-year terms, subject to approval by the Board of Public Works, and provide independent expertise in managing large investment portfolios.

“With these appointments, the Board benefits from a rich blend of expertise spanning public service, education, finance and investment management,” said Executive Director Martin Noven. “Each new trustee and advisor brings valuable experience that will strengthen our stewardship of the retirement system on behalf of Maryland’s public employees and retirees.” 

The Maryland State Retirement Agency is charged with the fiduciary responsibility for properly administering the retirement and pension allowances of nearly 168,000 retirees and beneficiaries, as well as the future benefits for more than 245,000 active and former members. These groups include state government employees, teachers, law enforcement personnel, legislators, judges and local government employees and firefighters whose employers have elected to participate in the system.   

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