The state’s pension system portfolio has increased in value by more than $4 billion, according to a news release from the Maryland State Retirement and Pension System. The fund returned 14.3% on investments as of Dec. 13, 2010, the midpoint of the current fiscal year. The earnings raised the system’s assets to $36 billion, $4.2 billion more than at the close of fiscal year 2010 on June 30.
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1 comment:
Wait, so how are they going to spin this to the state workers (that pay into this system) to take a reduced benefit?
What people do not understand about the state retirement system is workers pay their own money into it. It is not a gift from the state. In fact, if anything, it is a forced 0% loan from the workers to the state.
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