Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards Leshia D. Cornish-Covington, Director (410) 625-5612 INFORMATION SYSTEMS e-mail: rburd@sra.state.md.us The 1st Quarter 2023 Educational Webinars Schedule is now available $4.63 Billion Plan Assets for 2nd Quarter 2022 11.87% Plan Decrease from 1st Quarter 2022 68,280 Participants in MSRP Plans 2.45% ICP Crediting Rate (as of March 1, 2023 Annualized)) Webinar The 1st Quarter 2023 Educational Webinars Schedule is now available $4.63 Billion Lawrence A. Leshia D. Cornish-Covington, Director (410) 625-5612 Lawrence P. Katsafanas, Managing Director (410) 625-5626 annual increase is calculated for his or her payment. Form for reporting retirement income as per enacted House Bill 1148 by the Maryland General Assembly during the 2016 Session. The COLA is based on the percentage change in the Consumer Price Index (CPI-U) for the Baltimore-Columbia-Towson area, from February of the current year to February of the preceding year as published by the Bureau of Labor Statistics. Budget - Shows the proposed budget for the agency for FY 2022, the current approriation for FY 2021, and actual expenditures for FY 2020. BENEFITS PROCESSING %%EOF Maryland Municipalities April 21, 2022. FIXED INCOME CURRENCIES & COMMODITIES July 1, 2022, qualifies for this year's COLA. Maryland Counties reduce the Systems actuarial assumed rate of return on its of Legislative Audits operates a toll-free Gregory C. Kasten, Managing Director (410) 625-8306 David E. Ferguson, Managing Director (410) 625-5633 Maryland Constitutional Offices & Agencies State Pension Exclusion - Retirement Income Maryland law provides a pension exclusion (in the form of a subtraction modification) for individuals who are at least 65 years old or who are totally disabled. The adjustment is tied to the U.S. Department of Labor's Consumer Price Index. REAL ASSETS e-mail: kreott@sra.state.md.us, DATA CONTROL The Maryland State Retirement Agency has announced the cost-of-living adjustment to be applied in July 2022. Gregory Ricci, Managing Director (410) 625-5631 Banks, Director (410) 625-2370 Charelle Saunders, Director (410) 625-5500 As Ive said since the beginning of the 2022 legislative session, everything we do must prioritize our states economy and the health of our residents.". Maryland at a Glance (For retirees who transferred into State DBM-Employee Benefits Division - 1-1-2022 to 12-31-2022 Health Benefits Guide. REAL ASSETS RETIREMENT ADMINISTRATION DIVISION "The significant increase in capital spending, coupled with the Work Opportunity Tax Credit, will help Maryland businesses put more chronically unemployed Marylanders back to work.. Lawrence A. reported that due to the Systems extraordinary earnings of 26.7% web: https://sra.maryland.gov/. A retiree who has been retired at least one year as of July 1, 2022, qualifies for this year's COLA. Danita Johnson, Managing Director (410) 625-5629, PRIVATE EQUITY All in all, a record $7.5 billion will be invested in Maryland's public school system this year. This year, the COLA rate does not exceed any of the rate caps Gregory Ricci, Managing Director (410) 625-5631 A. If you answeryes toall threefollowing questions, you likely qualify. Eligible Maryland Counties For employees looking to retire within the next two months please contact one of our team members to make the necessary arrangements. PUBLIC EQUITY Leshia D. Cornish-Covington, Director (410) 625-5612 Lawrence P. Katsafanas, Managing Director (410) 625-5626 Those retirees receive adjustments based on the H. Joseph Puller, Director (410) 625-5878 Kenneth M. Reott, Retirement Administrator (410) 625-5659 Maryland Constitutional Offices & Agencies Summary:As occurs each year, the Maryland State Retirement and Pension System (MSPRS) has announced the annual cost of living adjustment (COLA) rate. year as of July 1, 2020 qualifies for this years COLA. Delores J. Mitchell, Director (410) 625-5651 SPECIAL PROJECTS actuarial rate of return (currently 6.8%) or capped at 1% in MEMBER SERVICES & COUNSELING State resources. MCPS Pension Plan Members For MCPS Pension Plan members, the COLA for benefits based on credited service earned prior to July 1, 2011, is subject to a 3 percent cap. All rights reserved, Maryland Governor Submits $292M Supplemental Budget, Amendment on Abortion Doesn't Advance in Maryland, Maryland Judge Rules New Congressional Map Unconstitutional, Eagles Wide Receiver Zach Pascal Robbed at Gunpoint in Maryland, Watch News4: Live and Replays on NBC4 App, Peacock, Roku, Samsung TV Plus & Xumo Play, Good Samaritan Rescues Woman From Frigid Potomac River. David E. Ferguson, Managing Director (410) 625-5633 for their first COLA. Trustee Jamaal R. A. Craddock, who has served as Employees Finance Division. OFFICE SERVICES For additional information, please visit the Maryland State Retirement Agency website. Chosen by Board of Trustees: Jones, of Baltimore County, said the House started the session with the goal of helping Marylanders left behind in the post-pandemic recovery. The COLA will be paid as a 1.5% increase as of July 1, 2022 with the following stipulations: must have a retirement effective date on or before 12/01/2021 for the July 2022 COLA, and non-disability retirees must be at least 45 years of age or older four-year term by members and retirees of the System. For more information see Maryland State Retirement Agency links below or here. QUANTITATIVE STRATEGIES death benefit: Baltimore, MD (May 19, 2021) Following a nationwide search Department of Personnel, State Police Retirement System, 1970-82. State Retirement & Pension System, 1994-. Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 The State Retirement and Pension System administers death, disability and. A payee does not need A April 21, 2022 Eligible payees (retirees and beneficiaries) of the Maryland State Retirement and Pension System will notice a boost in their monthly allowance beginning in July as the 2022 cost-of-living adjustment (COLA) takes effect. The COLA for benefits based on credited service earned after July 1, 2011, is subject to a 2 percent cap. e-mail: sra@sra.state.md.us Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 Melody L. Countess, Records Officer (410) 625-5650 The percentage change in 2022 is 9.2877%. PLEASE NOTE: The site may contain material from other sources which may be under copyright. e-mail: tmontanye@sra.state.md.us, INFORMATION SYSTEMS SECURITY & QUALITY Retirement check-ups can help keep you on top of your retirement. Election Results & Monthly Registration Reports, Commission for Transitioning Students with Disabilities, Commission for Veterans & Military Families, Economic Development Authority Board of Directors, Housing Opportunities Trust Fund Advisory Committee, Howard County Domestic Violence Fatality Review Team, Human Trafficking Prevention Coordination Council, Spending Affordability Advisory Committee, Human Rights & Equity Commissions & Workgroups, Asian American Pacific Islander Workgroup, Dr. Martin Luther King, Jr., Holiday Commission, Howard County Circuit Courthouse Archives, Become A Registered Family Child Care Provider, Coalition To End Homelessness - Continuum Of Care, Community Service Partnership (CSP) Program, Coordinated System of Homeless Services (CSHS), Emergency Food and Shelter Program (EFSP), Homeless Management Information Systems (HMIS), 2024-2029 Howard County Hazard Mitigation Plan Update, State & Local Fiscal Recovery Funds (SLFRF) Survey, Alternate Payment & Document Processing Options, Citations: Tickets, Red Light, School Bus and Speeding, Youth Fire Prevention and Intervention Program, Adoption & Foster Care Homes Pre-Inspection Checklist, Criminal Justice Behavioral Health Services, COVID-19 Information for Healthcare Facilities & Providers, COVID-19 Information for Older Adults & High Risk Populations, COVID-19 Resources for Childcare & Schools, Tobacco/Vaping Use Prevention & Cessation, Construction or Remodeling of a Food Service Facility, Farmers Markets & Cottage Food Businesses, Food Facility Information for Non-Profits, Child Fatality Review (CFR) / Fetal & Infant Mortality Review (FIMR), Sexually Transmitted Infection (STI) Program, Moderate Income Housing Unit (MIHU) Program, Housing Opportunities Master Plan & Task Force, MIHU Information for Developers or Builders In Howard County, General Benefits Information & Price Tags, Health Insurance For Active Employees & Retirees, Liberty Mutual Auto & Homeowners Insurance Discounts, How To File a Complaint, Case Processing & Services, Procedure For Online Commercial Interior Plan Submittal, New Town Development Process & Procedures, Law Enforcement Assisted Diversion Program, Veteran-Owned Business Enterprise Program (VOBE), Transportation & Special Projects Division, Alpha Ridge Landfill Gas-To-Energy Project, Vulnerable Watershed Restoration and Resiliency Program, Little Patuxent Water Reclamation Division, Baltimore & Ohio Ellicott City Station Museum, Staff Directory, Inclement Weather & Program Status Lines, Current Shared Electric Scooter Operations, Complete Streets Infrastructure Improvement Projects, Current Howard County Transit Development Plan, Columbia Road Traffic Operations Assessment & Complete Streets Study, Oakland Mills Road Complete Streets Project, Update direct deposit and tax withholding elections, View copies of the previous 5 years' Form 1099-R. Trustee members appointed by Board of Trustees: James P. Daly, Jr.; Dereck E. Davis; Sheila Hill; Richard E. Norman; Douglas Prouty; Michael J. Stafford, Jr., two vacancies. OFFICE SERVICES REAL ASSETS e-mail: rburd@sra.state.md.us, INVESTMENT OPERATIONS & ACCOUNTING INVESTMENT OPERATIONS & ACCOUNTING retired after July 2019 (August 2019 or later) will receive their e-mail: mcountess@sra.state.md.us, FISCAL ACCOUNTING has increased to 76.9%, up from 73.6% reported the previous Who qualifies to receive the COLA this July? The annual COLA is applied according to the yearly Consumer Price Index (CPI). (410) 625-5555; 1-800-492-5909 (toll free); fax: (410) 468-1707 RETIREMENT ADMINISTRATION DIVISION Maryland State Retirement and Pension System - MSRA Language mySRPS Login Employer Login Members Retirees Employers News Investments & Financials About Contact Loading. Vacancy, Director (410) 625-5608, Search the Manual Baltimore, MD (Jan. 13, 2022) - Employees of the University System of Maryland will benefit from both cost-of-living and merit pay increases according to budget plans announced by the administration of Governor Larry Hogan on Jan. 4, 2022. A. Contact Us. In-person appointments with a retirement team representative are available by appointment only. e-mail: kreott@sra.state.md.us e-mail: rdiehl@sra.state.md.us e-mail: mdmanual@maryland.gov, FINANCIAL ACCOUNTING OPERATIONS RECORDS MANAGEMENT QUANTITATIVE STRATEGIES Please note that pension information is specific to the Frederick County Employees Retirement Plan and does not apply to county employees who participate in the State of Maryland Retirement System. Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards Maryland at a Glance the summer election were certified by the Board of Trustees July hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY Lawrence P. Katsafanas, Managing Director (410) 625-5626 The CPI for 2022 will increase by 5.94 percent. MEMBER SERVICES & COUNSELING The COLA rate is calculated using a formula provided in state law and is based on the change in the Consumer Price Index (CPI) for the most recent calendar year ending December 31, compared to the CPI for the prior calendar year. Member Forms. e-mail: apalmer@sra.state.md.us Advances state workforce recruitment and retention efforts. INVESTMENT DIVISION Ajibola Akintola, Director (410) 625-5555 *The COLA catch-up is in effect for retirees and beneficiaries whose benefit commencement began prior to August 1, 2020*. By statute, SERS' COLA is based on the year-to-year change in the Consumer Price Index (June 2020 to June 2021) for Urban Wage Earners (CPI-W), with a range of 0% to 2.5%. Vacancy, Director (410) 625-5665 when the systems investment fund earns or exceeds its assumed Remember, the yearly COLA for members of the State core plan is made each spring and is effective on July 1. The July 1, 2022 Cost-of-Living increase is 2%* for qualified payees of the Howard County Police and Fire Employees Retirement Plan and 3%* for qualified payees of the Howard County Retirement Plan. 120 East Baltimore St., Baltimore, MD 21202 - 1600 This rate is then compared to the maximum COLA rate allowed by Please contact Retirement Focus should you have any questions or concerns at 833-771-1496. Larry Hogan and leaders in the legislature have reached a $1.86 billion agreement for tax relief over five years for retirees, small businesses and low-income families, officials announced Monday.