Baltimore, MD (July 31, 2019) — The Board of Trustees of the Maryland State Retirement and Pension System today announced that its portfolio returned 6.46% percent, net of fees, on investments for the fiscal year that ended June 30, 2019—falling short of the System’s 7.45% assumed actuarial return rate. The fund’s performance raised the system’s assets to $54.2 billion, an increase of $2.4 billion over last year.

Baltimore, MD (July 31, 2019) — The Board of Trustees of the Maryland State Retirement and Pension System today announced that its portfolio returned 6.46% percent, net of fees, on investments for the fiscal year that ended June 30, 2019—falling short of the System’s 7.45% assumed actuarial return rate. The fund’s performance raised the system’s assets to $54.2 billion, an increase of $2.4 billion over last year.

“The Board is focused on its obligation to pay member pension benefits in full and on time,” said State Treasurer Nancy K. Kopp, Chair of the Maryland State Retirement and Pension System Board of Trustees. “Investment returns this past year are within the Board’s expectations of variability around the long term average for our diversified asset allocation. Our earnings have averaged 8.6% over the last ten years, well above the plan’s expected rate of return and consistent with the Board’s investment policy.”