Diversity, Equity and Inclusion
Diversity, Equity and Inclusion
The Maryland State Retirement and Pension System is committed to diversity, equity and inclusion in all aspects of the administration and management of the investment program for the System.
We believe that our decision-making process can be improved by incorporating a diverse set of perspectives and experiences.
Our belief is that the Board of Trustees, the Investment Division, the System, and its managers and investments can all benefit from comprehensive policies that integrate strong diversity, equity and inclusion practices across the entire investment program.
What DEI Means to Us
The Investment Division of the System has adopted the following definitions:
Diversity: Encompasses the different characteristics that make one individual or group different from another, including organizational role or level, educational background, communication or management style, geographic location and demographic group – such as age, race, ethnicity, disability, gender, sex (including pregnancy, sexual orientation or gender identity), religion or belief, and other ways in which people differ.
Our DEI Framework
Three pillars organize our DEI efforts: Access, Commitment and Engagement (ACE).
Access
![](/sites/main/files/imagecache/thumbnail/main-images/terra_maria.png?1686937659 "Sources: "Knight Diversity of Asset Managers Research Series: Industry," 2021, Knight Foundation and Bella Private Markets; Maryland State Retirement Agency, 2022")
The System provides access and opportunities to underrepresented groups by identifying and minimizing barriers to open and equitable processes.
Terra Maria Emerging Manager Program
While the focus of our Terra Maria program is on emerging managers, it also promotes and encourages participation by minority- and women-owned business enterprises (MWBE).
Commitment
Through the efforts of the DEI Committee and other stakeholders, the System is committed to DEI initiatives and processes to help drive the best outcomes for our beneficiaries.
The Investment Division’s mission is to foster environments within the Investment Division and our partners that attract and retain the best talent; value diversity, equity and inclusion; and encourage innovation to maximize operational and financial performance.
Engagement
The System engages with external entities on relevant issues through an active ownership and an outreach program to support DEI initiatives.
In support of expanding diversity of participation, leadership, ownership and control in the investment industry, the System is continually making efforts to expand its understanding of how investment firms and the Investment Division can build their teams to promote diversity.