Montgomery County Taxpayers League

The Voice of Taxpayers of Montgomery County, Maryland

State pension fund is $20 billion in the hole and yet we pay an estimated $500 million a year in fees to investment fund managers.

From the Maryland Public Policy Institute an article published April 7, 2017, written by Jeff Hooke, a finance lecturer at Johns Hopkins Carey Business School

“Maryland legislators aren’t the only ones ducking the issue.  When the board of the [Maryland State Retirement and Pension System] met in February, the lengthy agenda failed to mention that investment returns for 2016 were 1.5 percent below the average of similar funds, suggesting an income shortfall of $600 million, an amount equal to Maryland’s annual tax revenue from gambling.”

 

Leave a Comment

Your email address will not be published. Required fields are marked *