SRPS of Maryland administers pension and other benefits for most public employees in the state, including public school teachers, state employees, and employees of school districts and political subdivisions that have elected to participate.
Maryland State Retirement and Pension System Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Maryland PERS |
21,622.4 |
188,932 |
| Maryland Teachers |
39,421.2 |
220,652 |
| Other Plans |
3,849.4 |
10,759 |
| Total |
64,893.0 |
420,343 |
Source: Public Plans Database (as of 2023)
Note: Maryland State Retirement and Pension System has 4 other plans.
Assets
Assets at Year-End
Maryland State Retirement and Pension System
2001-2023
| Fiscal Year |
Net Assets (billions) |
| 2001 |
29.5 |
| 2002 |
26.6 |
| 2003 |
26.7 |
| 2004 |
30.2 |
| 2005 |
32.1 |
| 2006 |
34.4 |
| 2007 |
39.4 |
| 2008 |
36.6 |
| 2009 |
28.6 |
| 2010 |
31.9 |
| 2011 |
37.6 |
| 2012 |
37.2 |
| 2013 |
40.4 |
| 2014 |
45.3 |
| 2015 |
45.8 |
| 2016 |
45.4 |
| 2017 |
49.0 |
| 2018 |
51.8 |
| 2019 |
53.9 |
| 2020 |
54.6 |
| 2021 |
67.6 |
| 2022 |
64.3 |
| 2023 |
64.9 |
Membership
Ratio of Actives to Beneficiaries, 2001-2023
| Fiscal Year |
Maryland State Retirement and Pension System |
US State and Local Pensions |
| 2001 |
2.2 |
2.4 |
| 2002 |
2.2 |
2.3 |
| 2003 |
2.1 |
2.2 |
| 2004 |
2.0 |
2.1 |
| 2005 |
1.9 |
2.1 |
| 2006 |
1.8 |
2.0 |
| 2007 |
1.8 |
2.0 |
| 2008 |
1.8 |
1.9 |
| 2009 |
1.7 |
1.9 |
| 2010 |
1.6 |
1.8 |
| 2011 |
1.5 |
1.7 |
| 2012 |
1.5 |
1.6 |
| 2013 |
1.4 |
1.5 |
| 2014 |
1.4 |
1.4 |
| 2015 |
1.3 |
1.4 |
| 2016 |
1.3 |
1.4 |
| 2017 |
1.2 |
1.4 |
| 2018 |
1.2 |
1.3 |
| 2019 |
1.2 |
1.3 |
| 2020 |
1.2 |
1.3 |
| 2021 |
1.1 |
1.2 |
| 2022 |
1.1 |
1.2 |
| 2023 |
1.1 |
1.2 |
2023 Membership for Maryland State Retirement and Pension System
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 198,647 |
174,609 |
47,087 |
420,343 |
150 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Maryland State Retirement and Pension System
2001-2023
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-490.5 |
29,481.4 |
| 2002 |
-629.2 |
26,586.9 |
| 2003 |
-706.4 |
26,727.8 |
| 2004 |
-779.3 |
30,166.7 |
| 2005 |
-861.2 |
32,073.7 |
| 2006 |
-941.3 |
34,370.8 |
| 2007 |
-853.1 |
39,444.8 |
| 2008 |
-700.7 |
36,615.7 |
| 2009 |
-777.1 |
28,570.5 |
| 2010 |
-664.9 |
31,923.6 |
| 2011 |
-604.2 |
37,592.8 |
| 2012 |
-518.1 |
37,178.7 |
| 2013 |
-661.3 |
40,363.2 |
| 2014 |
-729.5 |
45,340.0 |
| 2015 |
-747.8 |
45,789.8 |
| 2016 |
-921.4 |
45,365.9 |
| 2017 |
-852.2 |
48,987.2 |
| 2018 |
-1,059.3 |
51,827.2 |
| 2019 |
-1,172.0 |
53,943.4 |
| 2020 |
-1,224.0 |
54,586.0 |
| 2021 |
-1,297.3 |
67,604.5 |
| 2022 |
-1,351.4 |
64,311.0 |
| 2023 |
-1,398.3 |
64,893.0 |
2023 Cash Flows for Maryland State Retirement and Pension System (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 3,402.6 |
4,800.9 |
1,980.3 |
582.0 |
Cash Flow as a Percentage of Assets
Maryland State Retirement and Pension System
2001-2023
| Fiscal Year |
Maryland State Retirement and Pension System |
National Average |
| 2001 |
-1.7 |
-2.1 |
| 2002 |
-2.4 |
-2.0 |
| 2003 |
-2.6 |
-2.5 |
| 2004 |
-2.6 |
-2.0 |
| 2005 |
-2.7 |
-2.2 |
| 2006 |
-2.7 |
-2.2 |
| 2007 |
-2.2 |
-2.1 |
| 2008 |
-1.9 |
-2.3 |
| 2009 |
-2.7 |
-3.1 |
| 2010 |
-2.1 |
-3.2 |
| 2011 |
-1.6 |
-3.1 |
| 2012 |
-1.4 |
-3.3 |
| 2013 |
-1.6 |
-3.1 |
| 2014 |
-1.6 |
-2.9 |
| 2015 |
-1.6 |
-2.8 |
| 2016 |
-2.0 |
-3.0 |
| 2017 |
-1.7 |
-2.9 |
| 2018 |
-2.0 |
-2.6 |
| 2019 |
-2.2 |
-2.6 |
| 2020 |
-2.2 |
-2.4 |
| 2021 |
-1.9 |
-2.1 |
| 2022 |
-2.1 |
-2.1 |
| 2023 |
-2.2 |
-2.1 |
