Members appointed by the Board of Public
Works: Richard J. Benik, 1985; Louis N.
Phipps, Jr., 1985; James A. Jones, 1986.

Members elected by the Employees' Retirement
and Pension Systems' members and beneficia-
ries: Malcolm S. Barlow, 1983; May Town,
1985.

Members elected by the Teacher's Retirement
and Pension Systems' members and beneficia-
ries: Peter A. Whittaker, 1983; Homer 0.
Elseroad, 1985.

Christ G. Christis, Secretary

301 W. Preston Street
Baltimore 21201 Telephone: 383-5794
Toll Free: 1-800-492-5909

The Maryland State Retirement and Pension
Systems, created by Chapter 506 of the Acts of
1982, consolidated under one Board of Trustees
the Pension System for Employees of the State of
Maryland and the Employees' Retirement Sys-
tem, the Pension System for Teachers of the State
of Maryland and the Teachers' Retirement Sys-
tem, and the State Police Retirement System. The
general administration and responsibility for op-
eration of the several pension systems is vested in
the Board of Trustees.

The Board of Trustees establishes rules and
regulations for the administration of the several
pension systems and for the management of pen-
sion funds. The Board designates one or more
medical boards, each composed of three physi-
cians not eligible to participate in any of the sev-
eral pension systems, to arrange for and pass
upon all medical examinations required under the
laws of the several pension systems and to inves-
tigate all applications for disability retirement.
The Board also designates an actuary to be the
technical adviser to the Board on matters con-
cerning the operation of the pension funds in the
system.

The Board of Trustees annually publishes a
consolidated report showing the transactions of
each pension system for the preceding fiscal year,
the amount of accumulated assets of each, and an
actuarial valuation of assets and liabilities. The
Board also provides each member and beneficiary
with an annual statement summarizing the infor-
mation in the annual report and the individual's
vested benefits.

The Board of Trustees consists of thirteen
members. The State Comptroller, State Treasurer,
Secretary of Budget and Fiscal Planning, Score-

Independent Agencies/395

tary of Personnel, State Superintendent of Schools,
and Superintendent of State Police serve ex offi-
cio. Two additional trustees represent each of the
State retirement funds, and one trustee represents
the interests of local governments participating in
the Employees' Retirement System and the Pen-
sion System for Employees of the State of Mary-
land. Trustees representing the Employees' and
Teachers' systems are elected by the members
and beneficiaries of their respective systems. The
trustees representing the State Police Retirement
System are appointed by the Board of Public
Works. The trustee representing the interests of
local governments is appointed by the Governor.
Each of the elected or appointed trustees serves a
four-year term. The Board of Trustees annually
selects from its membership a chairperson, and by
majority vote appoints a secretary.

MARYLAND STATE RETIREMENT
AGENCY

Executive Director: Christ G. Christis
Telephone: 383-2344

This agency of the Board of Trustees is respon-
sible for carrying out the administrative duties
and business of the several State pension systems,
except for investments. The executive director for
administration, who performs the functions and
duties delegated to him by the Board, is ap-
pointed by the Board and serves at its pleasure.

STATE INVESTMENT AGENCY

Executive Director: Howard J. France
Telephone: 383-3798

This Agency is responsible for the investment
of the funds of the several State pension systems
as specified by the State Investment Council with
the approval of the Board of Trustees. The execu-
tive director, who is appointed by and serves at
the pleasure of the Board of Trustees, is responsi-
ble for planning, directing, coordinating, and exe-
cuting the functions of the agency in conformance
with regulations and policies established by the
Board.

STATE INVESTMENT COUNCIL

Chairperson: Peter A. Whittaker, 1983

Vice-Chairperson: William S. James, State Trea-
surer, 1986