MD Turns in 14.3% Gain at Mid-Point of FY 2011

January 24, 2011 ( – The Maryland State Retirement Agency reported that the state pension system's portfolio returned 14.3% on investments as of December 31, 2010, the midpoint of the 2011 fiscal year.

A news release said the performance increased the fund’s value by more than $4 billion.  These earnings exceed the 7.75% actuarially assumed rate, raising the assets of the system to $36 billion, up from $31.8 billion reported at the close of fiscal year 2010.

On June 30, 2010, the state pension system finished fiscal year 2010 with returns of 14%. This significantly exceeded the 7.75% actuarially assumed rate and provided a $1.8 billion gain above the expected return, according to the news release.

Over the last 30 years, the Maryland State Retirement and Pension System has realized average returns of 9.3%. 

“The board is very pleased with the fund’s continuing positive performance and the steady growth we have seen in the fund since the economic downturn of just a few years ago,” said State Treasurer Nancy K. Kopp, Chair of the Maryland State Retirement and Pension System Board of Trustees, in the news release.  “The upward trajectory the system has enjoyed over the last couple of years is due in no small part to professional management by the system’s investment team and to the prudently diversified asset allocation that they manage.”