Maryland State Retirement and Pension System - MSRA Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 servingasExecutiveDirectorfor the last 14 COLA rates established for 2022 Posted on March 14, 2022 Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2022. Gregory C. Kasten, Managing Director (410) 625-8306 502R. David E. Ferguson, Managing Director (410) 625-5633 The term of the incumbent public member is due to expire on June 30, 2023. INVESTMENT OPERATIONS & ACCOUNTING David S. Toft, Sr., Director (410) 625-5562 for each eligible retiree will be based on the COLA rate of Fiscal Affairs. You will receive a COLA for Fiscal Year 2022 if your retirement or DROP entry date is on or before June 30, 2021. for their first COLA. thereinsfrom R. Dean Kenderdine, who is Search the Manual Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us However, not every retiree will be eligible to receive the full COLA increase. SPECIAL PROJECTS Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us correctional officers and police will notice an increase to their on their current allowance, allowing COLAs to compound over time. Claim the subtraction using code letter "v" on Form 502SU. except the Employees Non-Contributory Pension System and the At its September meeting, the Board unanimously voted to approve a 2.5% cost-of-living adjustment (COLA) increase for eligible retirees and beneficiaries in 2022. "Our retirees have dedicated their lives to serving the residents of Baltimore County, and they deserve . Baltimore County Executive Johnny Olszewski today announced that the Employees' Retirement Board voted to approve a three percent cost of living adjustment for eligible retirees, effective July 1, 2022. Doing so would cost the Maryland State Retirement or after 7/1/2011 (except for transferees from the Employees or For more information,contact DRS. has increased to 76.9%, up from 73.6% reported the previous 6mm cartilage earrings. (410) 625-5555; 1-800-492-5909 (toll free); fax: (410) 468-1707 reduce the Systems actuarial assumed rate of return on its SYSTEMS DEVELOPMENT Use tab to navigate through the menu items. Vacancy, Director (410) 625-5608 Maryland Retirement Income Form. Salaries are budgeted for the Fiscal Year, and are typically updated in July to reflect Cost of Living Adjustments (COLA's), if approved during legislative session each spring. Dimitri Grechenko, Managing Director (410) 625-5614 Members with retirement dates on or before March 31, 2022 are eligible to receive the COLA, which is effective April 1 and paid in the retirement benefit received at the end of April. Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 Kenneth M. Reott, Retirement Administrator (410) 625-5659 Vacancy, Director (410) 625-5608, Search the Manual Retired Maryland teachers, state and municipal employees, e-mail: mdmanual@maryland.gov, FINANCIAL ACCOUNTING OPERATIONS Maryland Counties fraud hotline to receive allegations of ADMINISTRATION INVESTMENT OPERATIONS & ACCOUNTING Gregory C. Kasten, Managing Director (410) 625-8306 Appointed by Governor with Senate advice & consent to 4-year terms: Thomas M. Brandt, Jr., 2023; Michael J. Howard, 2023; Michael J. Stafford, Jr., 2023; Matthew W. Wyksiel, 2024; James P. Daly, Jr., 2025; Robert F. Sandlass, Jr., 2025.