[photo, 120 East Baltimore St., Baltimore, Maryland] The State Retirement and Pension System administers the survivor, disability and retirement benefits covering State and local government employees, teachers, State police, correctional and law enforcement officers, judges, and legislators.

120 East Baltimore St., Baltimore, Maryland, August 2015. Photo by Diane F. Evartt.

Under one Board of Trustees, the State Retirement and Pension System consolidates the Pension System for Employees of the State of Maryland and the Employees' Retirement System, the Pension System for Teachers of the State of Maryland and the Teachers' Retirement System, and the State Police Retirement System. Prior to this consolidation, retirement and pension systems functioned separately. The earliest began in 1927 when the Teachers' Retirement System was established (Chapter 344, Acts of 1927). The Employees' Retirement System formed in 1941 (Chapter 377, Acts of 1941). Thereafter, the State Police Retirement System started in 1949 (Chapter 349, Acts of 1949). In 1970, these three systems were placed under the Department of Personnel. In 1979, the Pension System for Employees of the State of Maryland, and the Pension System for Teachers of the State of Maryland were created (Chapters 23, 24, Acts of 1979). From these systems, the Maryland State Retirement and Pension Systems formed in 1982. When the pension law was recodified in 1994, the Maryland State Retirement and Pension Systems was renamed the State Retirement and Pension System (Chapter 6, Acts of 1994).


In 1982, the Board of Trustees for the State Retirement and Pension System was created (Chapter 506, Acts of 1982). The Board establishes rules and regulations to administer the several pension systems and manage pension funds. On matters concerning the operation of the pension funds in the System, the Board selects an actuary as its technical adviser. From the Board, each member and beneficiary receives a summary of the System's annual report and of the individual's vested benefits.

To arrange and evaluate all medical examinations required under the laws of the several pension systems and to investigate all applications for disability retirement, the Board designates one or more medical boards. The boards each are composed of three physicians ineligible to participate in these pension systems.

Fifteen members constitute the Board of Trustees. Twelve serve four-year terms. Of these, seven are appointed by the Governor, and five are elected by the members and beneficiaries of the State Employees', State Police and Teachers' pension and retirement systems. Three serve ex officio. (Chapters 543 & 535, Acts of 2013; Code State Personnel and Pensions Article, secs. 21-104 through 21-127).

The Board of Trustees is assisted by five committees: Administrative, Audit, Corporate Governance, Investment, and Securities Litigation.


An agency of the Board of Trustees, the State Retirement Agency administers the several State pension systems. The Executive Director is appointed by the Board (Code State Personnel and Pensions Article, secs. 21-117 through 21-123).

Under the Agency are five Divisions: External Affairs; Finance; Information Systems; Investment; and Retirement Administration.


The External Affairs Division formed in February 2010.

In addition to media relations, the Division manages communications with: the General Assembly, System members and retirees, member associations, and the general public. The Division provides information about goals and policies of the Board of Trustees, functions and procedures of the Agency, and the rights and benefits of the State Retirement and Pension System.


The Finance Division began as Fiscal Affairs, and became the Fiscal Affairs Division by 1994. It adopted its current name in 1996.

The Division is responsible for five main units: Budget, Procurement, and Contracts; Financial Accounting Operations; General Accounting; Human Resources; and Office Services.


Information Systems started as Data Processing. In July 1993, it reformed as Systems Development within the State Retirement Agency and reorganized under its present name in 1995.

The division designs and implements automated management information systems and enhancements to systems.

Under Information Systems are four units: Information Systems Security and Quality, Network Operations, Pension System Operations, and Systems Development.


In 1982, the Investment Division originated as the State Investment Agency under the State Retirement and Pension System (Chapter 506, Acts of 1982). Functions of the State Investment Agency reorganized through the Investment Division under the State Retirement Agency in 1988 (Chapter 698, Acts of 1988).

The Division invests, manages, controls, and performs investment accounting functions for the Retirement Accumulation and Annuity Savings Funds of the System (Code State Personnel and Pensions Article, sec. 21-122).

Four units come under the Division: Fixed Income, Absolute Return, and Real Return; Private Equity; Public Equity; and Real Estate and Credit.


Under the State Retirement Agency, the Retirement Administration Division formed in 1988. The Division pays benefits to retirees, and administers employee contributions. Retirement counseling is provided to individuals and in group sessions.

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