Md. Pension Fund Lost Out on $8.8 Billion in Retiree Income

From a new report by the Maryland Public Policy Institute:

“Maryland state pension managers lost out on nearly $9 billion in income over the past decade by paying higher-than-average investment fees to Wall Street managers in exchange for lower-than-average investment returns,…Compared to its peer group states, Maryland lost out on an estimated $5 billion in income, an amount sufficient to replace every public school in Baltimore City with a brand-new facility.”

 

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