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Maryland

Maryland has one main public pension system: the Maryland State Retirement and Pension System (SRPS).

The SRPS board represents most state employees and their respective pension funds consists of 15 members: 3 Ex Officio (State Treasurer, State Comptroller, Secretary of Budget and Management); 5 appointed by the Governor; 7 elected by the active members and retirees of the various represented retirement systems.
- Maryland SRPS discloses its specific proxy voting records on this website.

The “By Asset Manager” and “Asset Manager Voting” tables show the proxy voting records of the state’s asset managers who manage the pensions’ stock market portfolio through index, exchange-traded, or mutual funds. Since these are externally managed funds, the asset managers typically retain and exercise proxy voting privileges. This data is used to calculate the state’s pro-ESG and anti-ESG scores to see how the state leverages its externally managed funds in proxy voting.

The “State Voting” table shows SPRS’ proxy voting records for directly owned securities through pension fund portfolios. The 1792 Exchange commends SPRS for publicly disclosing this information online for its pensioners.

Both tables are important to show a comprehensive picture of the state’s proxy voting record.

By Asset Manager

AQR Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

82%

Dimensional Investment Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

5%

FIS Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

73%

State Street Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

18%

State Street SSGA

Percentage of times Mgr. voted “for” pro-ESG proposals:

19%

T Rowe Price Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

3%

Artisan Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

17%

Baillie Gifford Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

29%

Westwood Funds

Percentage of times Mgr. voted “for” pro-ESG proposals:

0%

Asset Manager Voting

Pro-ESG

14.5%

Anti-ESG

1.7%

Anti-Fossil Fuels

16%

Anti-Pollution/Waste

20%

Animal Rights

7%

DEI

12%

Weapons/Defense

10%

Human Rights

17%

Income Equality

11%

Political Speech/Lobbying Spending

10%

Health Care

10%

Race/Gender targets on Boards

11%

Non-Pecuniary

10%

ESG-Focused Governance

6%

Abortion

8%

Pro-Fossil Fuel

1%

Equality not DEI

1%

Controversial Cause Support

1%

Geopolitical Rivals/China

1%

State Voting

Pro-ESG

45%

Anti-ESG

0%

Anti-Fossil Fuel

40%

Anti-Pollution/Waste

48%

Animal Rights

40%

DEI

36%

Weapons/Defense

20%

Human Rights

42%

Income Equality

85%

Political Speech/Lobbying Spending

86%

Health Care

26%

Race/Gender targets on Boards

100%

Non-Pecuniary Corporate Purpose

0%

ESG-Focused Governance

22%

Abortion

10%

Pro-Fossil Fuel

0%

Equality not DEI

0%

Controversial Cause Support

0%

Geopolitical Rivals/China

0%

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