State employee pension system ranked 31st of 40 in portfolio performance

August 01, 2002|BY A SUN STAFF WRITER

Maryland's state employee pension system finished 31st of 40 in a national ranking of the investment performance of large public plans, officials said yesterday.

The pension fund's 77th percentile ranking for the fiscal year that ended June 30 is an improvement from fiscal 2001, when the Maryland plan was last among 38 funds ranked by Wilshire Associates.

The state system recently announced that it lost about $3 billion in assets last year on top of about $3.5 billion the year before - leaving it with $26.5 billion.

Maryland's poor performance a year ago in the widely watched survey led to changes in the way the fund does business.

"It's a little progress, but it's not where we want to be," pension fund spokesman Joseph M. Coale said of the ranking.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.