Pension board

Rascovar: Md. state pension investing: Goldilocks vs. Chicken Little?  

In Maryland, it has become an annual rite of August for critics to lambast state pension trustees when they fall short on their investments. The biggest lament is the state’s huge “unfunded liability,” which stands a bit below $20 billion. That’s a mighty hefty number. Is the pension program for 387,000 state workers, teachers and retirees going broke as doom-and-gloomers insist? 

The man who navigated Bay fisheries’ troubled waters   

Saving the Bay is obviously about improving water quality, but equally tricky is the business of managing how much seafood we extract from that water. From crabs and other shellfish to finfish, modern technologies enable harvest pressure that could overwhelm the healthiest estuary. So, we need rules — and moderation.

Opinion: Strengthening Regional Greenhouse Gas Initiative would be a win for Marylanders

In the next few weeks, Gov. Larry Hogan has a chance to secure a big win for our state’s economy and cleaner air. The pioneering Regional Greenhouse Gas Initiative (RGGI), which has already helped slash carbon pollution from Maryland power plants by more than 40%  and is a key pillar in our state’s plan to address climate change, is undergoing a review.

Rascovar: John Delaney for president? Really? 

Donald Trump may have started an unwelcome trend. An outsider who started as a joke rather than a serious contender in the wide-open GOP presidential primaries last year, Trump pulled off America’s biggest upset. Today he’s president and now just about anyone thinks he, or she, can do the same thing. Exhibit A is Maryland Congressman John Delaney. He thinks he should be president.

Sen. Kagan considers race for Montgomery County executive

Sen. Cheryl Kagan is an unconventional politician, particularly when it comes to fundraising. No breakfast fundraisers or evening receptions for the Gaithersburg senator. Kagan goes more for ice cream socials and afternoon concerts with the kind of singer-songwriters she’s been promoting in house concerts for years, as she did Sunday afternoon at an art gallery in the new Crown section of Gaithersburg, part of District 17.

Rascovar: James Madison, John McCain and Larry Hogan

Washington’s embarrassing health care debacle should not come as a surprise. Two hundred thirty years ago, James Madison warned of just such an appalling spectacle in Federalist Paper No. 10. He pinpointed the cause, as did Maryland Gov. Larry Hogan and Arizona Sen. John McCain in the past week. 

Pension system investments earned 10% in FY ’17, but long term returns still lag

The investment portfolio of the Maryland State Retirement and Pension System returned 10.02% for the fiscal year that ended June 30, raising the assets of the system to $49 billion, an increase of $3.6 billion over last year. That still leaves an unfunded liability of at least $20 billion. The exact amount of the shortfall if all promised benefits had to be paid out immediately has yet to be calculated this year.The year’s performance exceeded the system’s 7.55% target for annual return, and raised the five-year average to 7.64%.