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Maryland State Retirement and Pension System
Maryland State Retirement and Pension System (SRPS) administers death, disability, and retirement benefits. It serves over 350,000 members. Members include...
Maryland State Retirement and Pension System
Maryland State Retirement and Pension System (SRPS) administers death, disability, and retirement benefits. It serves over 350,000 members. Members include active and former State employees, teachers, police, judges, and legislators.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Baltimore
Corporate office
120 East Baltimore Street, Baltimore, MD 21202, United States
Principals
Dereck E. Davis
Chair of the Board of Trustees
Brooke Lierman
Vice-Chair of the Board of Trustees
Andrew Palmer
Chief Investment Officer
Martin Noven
Executive Director of the State Retirement Agency
Sector focus
Frequently asked questions
Who runs investment decisions at Maryland State Retirement and Pension System?
Andrew Palmer serves as Chief Investment Officer and is scheduled to retire in June 2025. Martin Noven acts as Executive Director of the State Retirement Agency. The Board of Trustees, chaired by State Treasurer Dereck E. Davis, holds final fiduciary responsibility.
Does Maryland State Retirement and Pension System participate in fund commitments or only direct deals?
The system makes commitments to commingled funds and co-investments. Confirmed holdings include Global Infrastructure Partners Fund V, DigitalBridge Partners III, Hellman & Friedman Capital Partners X and TA XIV.
What asset classes does Maryland State Retirement and Pension System allocate to?
Allocations cover public equities, core and value-add real estate, infrastructure, private equity, life sciences and royalties. Public positions include NVIDIA, Apple and Microsoft. Real estate holdings include Clarion Lion Industrial Trust and AEW Core Property Trust.
Where does Maryland State Retirement and Pension System invest geographically?
The portfolio includes U.S. real estate, North American infrastructure and global private equity and infrastructure funds. Public equity holdings are primarily U.S. listed companies with some international exposure such as Enbridge.
How is Maryland State Retirement and Pension System governed?
A Board of Trustees that includes the State Treasurer and Comptroller sets policy. The State Retirement Agency, led by Martin Noven, handles operations. The plan is subject to state statute, actuarial review and public disclosure requirements.
Which professional networks does Maryland State Retirement and Pension System belong to?
The system is a member of the Institutional Limited Partners Association, Council of Institutional Investors, National Association of State Retirement Administrators and Private Equity Women Investor Network.
Who provides consulting and custody services to Maryland State Retirement and Pension System?
State Street Bank and Trust Company serves as custodian. Meketa Investment Group acts as general investment consultant and Aksia LLC as alternative investment consultant. Gabriel, Roeder, Smith & Company provides actuarial services.
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