2018 State Pension Fund Investment Performance Report

Despite High Fees, Maryland and Other State Pension Funds Struggle to Beat 60/40 Benchmark

Jeff Hooke, Carol Park Apr 27, 2018

Executive Summary

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]


[1] 1.26 percent x $40 billion  average assets x 10 years = $5 billion