2018 State Pension Fund Investment Performance Report
Despite High Fees, Maryland and Other State Pension Funds Struggle to Beat 60/40 Benchmark
The Maryland State Retirement and Pension System reported net assets of $49 billion as of June 30, 2017. To evaluate the Fund’s investment performance, the Maryland Public Policy Institute studied the 33 state pension funds with the same fiscal year end. For the 10 years ending June 30, 2017, the Fund investment portfolio underperformed its peer group median by roughly 1.26 percent per year over the last 10 years. Over 10 years, the shortfall in lost income was approximately $5 billion.
 1.26 percent x $40 billion average assets x 10 years = $5 billion