Md. Code Ann., State Pers. & Pens. § 30-201
Optional retirement program
Effective Jul 1, 2019Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2019, c. 207, § 1, eff. July 1, 2019.State of Maryland
- (a) There is an optional retirement program in which eligible employees may participate.
- (b) Under the program, annuity contracts offered by a designated company that provide retirement and death benefits may be purchased for participating employees.
(c)
- (1) The Board of Trustees shall administer the program to the extent provided in this title.
- (2) The State Retirement Agency shall carry out the administrative duties of the Board of Trustees.
- (d) The program shall be offered by each employing institution.
Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2019, c. 207, § 1, eff. July 1, 2019.
Formerly Art. 73B, §§ 11-102, 11-103.