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Posted at 5:40 AM ET, 07/22/2010

Md. pension portfolio grows 14 percent

By Mike McPhate

Maryland's state pension system, responsible for retirement funds of more than 116,000 retirees and beneficiaries, grew beyond expectations the last fiscal year.

That's welcome news after two years of decline.

The Maryland State Retirement and Pension System's portfolio returned more than 14 percent on investments. The assumed rate of return had been 7.75 percent.

The assets of the system were raised to $31.8 billion.

In fiscal 2008, the portfolio dropped 5.4 percent; 2009, it fell more than 20 percent.

Information from: The Baltimore Sun

-- Associated Press

By Mike McPhate  | July 22, 2010; 5:40 AM ET
Categories:  Maryland  
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