DFX Intelligence

Allocator Intelligence

Maryland Employees' Retirement and Pension Systems

State retirement systemstate generalPart of a larger system· Maryland

State retirement system, based in Maryland, reporting $74B in assets, for 192,783 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$74B
View relationshipsAsk DFX about this allocator
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Open searchesAllocation policyConsultants
As of · the latest dated event for this allocator; each figure carries its own filing or report date

Nothing material in the last 90 days. Last change: 30 Jun 2024, Maryland Employees' Retirement and Pension Systems fiduciary net position $21.6B -> $22.7B (+5.0%, 2023-06-30 to 2024-06-30).

4 more advisers

Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Relationship network

8 connected entities

From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.

Reading the network
  • Service provider
  • Organization
›How strength and recency are read

Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

Size, funding, policy and commitments, with their basesState retirement systemShow
State retirement system
Assets
$74B
Fiduciary net position, Jun 30, 2025 reported
Funded
not on record
not filed
Private markets target
no policy read
policy Jun 30, 2025
Commitments
0
none on the tape
Invested by: Maryland State Retirement and Pension System

Allocation policy

ACFR, as of Jun 30, 2025

Consultants and advisers

7 firms

+4 more consultants and advisers advise this allocator

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

People

No investment staff or executives have been read for this allocator yet.

Manager roster

No manager relationship is on the tape for this allocator.

What changed

1 event
  • Jun 30, 2024Assets changed
    Maryland Employees' Retirement and Pension Systems fiduciary net position $21.6B -> $22.7B (+5.0%, 2023-06-30 to 2024-06-30)
    www2.census.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.

Commitments

No fund commitments are on the tape for this allocator. The tape holds the plans that publish their own private-markets reports; a plan that publishes one and is not here is a gap we can close.

Size and funding

58 readings
Total assets
$23B Jun 30, 2024 derived Census ASPP
$22B (2023-06) · $23B (2022-06)
Fiduciary net position
$74B Jun 30, 2025 reported ACFR
$23B (2024-06) · $22B (2023-06) · $21B (2022-06)
Long-term investments
$22B Jun 30, 2024 reported Census ASPP
$22B (2023-06) · $22B (2022-06)
Total pension liability
$11B Jun 30, 2024 reported Census ASPP
$9.5B (2023-06) · $8.4B (2022-06)
Discount rate
6.80% Jun 30, 2024 reported Census ASPP
6.80% (2023-06) · 6.80% (2022-06)
Participants
192,783 Jun 30, 2024 derived Census ASPP
189,158 (2023-06) · 186,033 (2022-06)
Active members
85,101 Jun 30, 2024 derived Census ASPP
81,336 (2023-06) · 78,696 (2022-06)
Beneficiaries
85,479 Jun 30, 2024 reported Census ASPP
84,846 (2023-06) · 83,845 (2022-06)
Benefits paid
$1.8B Jun 30, 2024 reported Census ASPP
$1.7B (2023-06) · $1.6B (2022-06)
Investment expense
$145M Jun 30, 2024 reported Census ASPP
$144M (2023-06) · $189M (2022-06)

Provenance

Identifiers: Census PID6 244188
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 23, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

Not yet on record: funded ratio, private markets allocation target, fund commitments.

Record history

1 dated event on the change ledger, latest event first
  • Total assets changed
    2024-06-30source on record

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

›Connections

every published relationship on the graph

+8 connections on the graph

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.