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Old 03-05-2019, 06:35 AM
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Mary Pat Campbell
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Join Date: Nov 2003
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MARYLAND

https://www.mdpolicy.org/library/doc...iabilities.pdf

Quote:
HOW TO REDUCE
MARYLAND’S
PENSION
LIABILITIES
Lessons From the 30-Largest
U.S. Public Pension Funds

OVERVIEW
On June 30, 2017, the 30-largest public pension funds in the United States, with combined assets of
$2.65 trillion, reported a group median funded status of 75.32 percent. At that time, the Maryland State
Retirement and Pension System (MSRPS), the 22nd-largest public pension fund in the country, reported
a funded status of 69.4 percent.
To categorize and compare Maryland’s pension status with similar large public pension funds and
develop policy recommendations to reduce the state’s pension liabilities, the Maryland Public Policy Institute conducted a study of the 30-largest public pension funds in the country by comparing the funds’
discount rates, 10-year investment returns, and member contribution rates. The study identified three
main problems underlying Maryland’s pension crisis: undervalued pension liability, underperforming
investment, and inadequate cost sharing.
Until today, Maryland legislators have largely neglected these pension problems, which merit immediate attention. Meanwhile, other states with large public pension funds that face similar problems
have implemented various reforms over the years to fix their pension systems. Drawing on lessons from
other large pension funds that are back on the track to being fully funded, this report recommends these
pension reforms for Maryland: a lower discount rate, passive investment strategy, and DB+DC and cash
balance plans.
more at link
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