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State pension fund earnings beat marks

State pension fund earnings beat marks

The Maryland state employees' pension system reported last week that it grew to more than $40 billion during the 12 months that ended June 30 as it posted a 10.6 percent return on its investments.

That performance exceeds both the state's assumption that it would earn 7.75 percent and the 8.6 percent average performance for the types of assets that the fund owns.

Pension fund officials pointed to the showing as vindication of its investment strategies, which have been criticized by a conservative think tank.

The Maryland Public Policy Institute recently released reports criticizing the pension system — which provides benefits for 132,000 retired state employees, teachers...