Maryland PERS Basics

  • Established 1941
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Maryland PERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 10.2
2002 9.1
2003 9.2
2004 10.4
2005 11.0
2006 11.8
2007 13.6
2008 12.6
2009 9.9
2010 11.0
2011 12.9
2012 12.6
2013 13.7
2014 15.4
2015 15.5
2016 15.3
2017 16.5
2018 17.5
2019 18.1

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Maryland PERS US State and Local Pensions
2001 2.1 2.5
2002 2.1 2.4
2003 2.0 2.3
2004 1.9 2.2
2005 1.8 2.1
2006 1.7 2.1
2007 1.7 2.0
2008 1.6 2.0
2009 1.6 1.9
2010 1.5 1.8
2011 1.4 1.7
2012 1.3 1.6
2013 1.3 1.5
2014 1.2 1.5
2015 1.2 1.5
2016 1.1 1.4
2017 1.1 1.4
2018 1.0 1.3
2019 1.0 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Maryland PERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 6.2 0.0 5.0 6.2 6.2
2002 5.0 0.0 4.8 4.8 4.8
2003 4.2 0.9 5.7 5.1 5.1
2004 5.1 1.3 7.3 6.5 6.5
2005 5.5 3.3 9.0 8.8 8.8
2006 6.0 2.9 9.3 9.0 9.0
2007 7.3 2.7 10.0 10.0 10.0
2008 8.7 2.0 10.4 10.7 10.7
2009 8.7 2.6 10.2 11.3 11.3
2010 9.9 3.2 10.5 13.1 13.1
2011 12.0 5.2 12.5 17.3 17.3
2012 12.7 5.4 12.9 18.1 18.1
2013 13.3 5.5 13.9 18.9 18.9
2014 14.0 5.2 14.5 19.3 19.3
2015 15.0 2.9 14.9 17.8 17.8
2016 15.1 1.1 14.8 16.2 16.2
2017 16.9 0.0 15.1 16.9 16.9
2018 16.4 0.0 18.1 16.4 16.4
2019 16.7 0.0 18.8 16.7 16.7

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Maryland PERS, 2001-2019

Fiscal Year Maryland PERS National Data
2001 102.2 106.5
2002 98.0 101.1
2003 93.1 94.2
2004 91.2 93.1
2005 86.7 91.1
2006 80.4 90.5
2007 79.5 91.2
2008 77.2 90.2
2009 63.9 83.2
2010 62.8 81.5
2011 62.8 80.4
2012 62.5 78.9
2013 63.3 78.7
2014 66.0 79.0
2015 66.7 78.2
2016 67.7 76.3
2017 68.9 76.4
2018 69.4 76.5
2019 68.3 76.1

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Maryland PERS, 2019

Category Percent
Equities 35.8
Fixed Income 18.6
Private Equity 14.0
Real Estate 9.3
Cash 0.8
Other 0.0
Commodities 3.9
Hedge Fund 17.6
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Maryland PERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 65.7 27.6 0.0 5.0 1.5 0.0 0.0 0.0 0.0
2002 62.5 30.0 0.0 6.1 1.2 0.0 0.0 0.0 0.0
2003 57.1 31.3 0.0 6.4 4.9 0.0 0.0 0.0 0.0
2004 63.4 28.9 0.0 6.8 0.5 0.0 0.0 0.0 0.0
2005 63.9 29.7 0.0 5.1 0.8 0.0 0.0 0.0 0.0
2006 63.5 30.2 0.6 5.3 0.4 0.0 0.0 0.0 0.0
2007 64.0 29.4 1.0 4.9 0.7 0.0 0.0 0.0 0.0
2008 61.0 24.4 1.7 6.5 0.0 0.0 4.2 2.2 0.0
2009 55.9 18.3 3.4 5.9 6.4 0.0 5.0 5.1 0.0
2010 50.3 18.5 3.2 6.3 3.6 0.0 10.2 7.9 0.0
2011 46.7 21.5 4.3 5.7 1.4 0.0 10.2 10.2 0.0
2012 41.4 19.2 5.7 6.4 3.5 0.0 9.2 14.6 0.0
2013 41.6 16.0 6.2 5.7 4.3 0.0 11.3 14.9 0.0
2014 38.4 14.7 7.0 6.8 3.0 0.0 11.2 18.9 0.0
2015 36.8 13.5 8.0 7.4 1.4 0.0 13.0 19.9 0.0
2016 36.9 22.7 9.2 12.7 0.6 0.0 0.0 17.9 0.0
2017 36.7 21.3 9.9 11.5 0.6 0.0 3.8 16.1 0.0
2018 37.1 21.7 12.5 8.9 0.5 0.0 2.9 16.4 0.0
2019 35.8 18.6 14.0 9.3 0.8 0.0 3.9 17.6 0.0

Source: Public Plans Database


Annual Return as of June 30 for Maryland PERS, 2001-2019

Fiscal Year Maryland PERS Assumed return
2001 -9.40 8.00
2002 -7.60 8.00
2003 3.20 8.00
2004 16.20 7.75
2005 9.50 7.75
2006 10.40 7.75
2007 17.60 7.75
2008 -5.40 7.75
2009 -20.00 7.75
2010 14.03 7.75
2011 20.00 7.75
2012 0.36 7.75
2013 10.57 7.70
2014 14.37 7.65
2015 2.70 7.55
2016 1.20 7.55
2017 10.00 7.50
2018 8.06 7.45
2019 6.46 7.40

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Maryland PERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -177.3 10,163.4
2002 -214.6 9,147.4
2003 -248.6 9,235.9
2004 -287.8 10,395.8
2005 -314.7 11,032.0
2006 -326.7 11,821.4
2007 -276.9 13,581.3
2008 -226.2 12,617.3
2009 -257.7 9,872.1
2010 -268.2 10,983.3
2011 -261.3 12,861.1
2012 -249.6 12,642.2
2013 -264.6 13,686.9
2014 -262.2 15,365.0
2015 -260.1 15,510.8
2016 -348.1 15,331.5
2017 -306.9 16,540.7
2018 -406.2 17,452.9
2019 -461.5 18,095.4

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Maryland PERS
2001-2019

Fiscal Year Maryland PERS National Average
2001 -1.7 -2.3
2002 -2.3 -2.3
2003 -2.7 -2.6
2004 -2.8 -1.7
2005 -2.9 -1.9
2006 -2.8 -1.9
2007 -2.0 -1.7
2008 -1.8 -1.9
2009 -2.6 -2.7
2010 -2.4 -2.9
2011 -2.0 -2.8
2012 -2.0 -3.1
2013 -1.9 -3.0
2014 -1.7 -2.7
2015 -1.7 -2.8
2016 -2.3 -3.0
2017 -1.9 -2.9
2018 -2.3 -2.4
2019 -2.6 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Maryland PERS benefit descriptions.