clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1978
Volume 736, Page 2941   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

BLAIR LEE III, Acting Governor

2941

and the book value estimated to be $1.7 billion; and

WHEREAS, The combined assets of the Employees',
Teachers', and State Police Retirement Systems represents
one of the largest single funds in the State of Maryland and
one of the largest pension funds in the United States; and

WHEREAS, The responsibility for the investment of     the

funds lies within the Division of Investments of     the

Retirement System Administration of the Department       of

Personnel and is not directly under the direction of   the
State Treasurer; and

WHEREAS, The Retirement System funds are composed of
contributions made by State employees and teachers, the
State of Maryland, and various participating local
governments and the investment performance of these funds
directly affects the costs to the State and the local
governments; and

WHEREAS, The decisions affecting the channeling of such
large sums of money into the market place can have a
dramatic impact on the condition of the funds and upon the
costs to the State; and

WHEREAS, The General Assembly of Maryland does not
provide any legislative oversight concerning the investment
performance of the funds other than through the
participation of the State Treasurer on the Joint Boards of
Trustees of the State Retirement Systems; now, therefore, be
it

RESOLVED BY THE GENERAL ASSEMBLY OF MARYLAND, That the
Joint Committee on the Management of Public Funds Joint
Budget and Audit Committee Legislative Policy Committee is
requested to examine the present investment policies and
practices followed by the Division of Investments and to
examine any existing procedures for the auditing of the
investment performance of the funds; and be it further

RESOLVED, That the Committee is requested to consider
the appropriate role of the General Assembly of Maryland in
providing legislative oversight of the investment of the
Retirement System funds and to submit its recommendations,
if any, to the 1979 General Assembly.

Approved May 2, 1978.

No. 10
(Senate Joint Resolution 53)
A Senate Joint Resolution concerning

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1978
Volume 736, Page 2941   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 11, 2023
Maryland State Archives