MARVIN MANDEL, Governor

4103

WHEREAS, By Executive Order dated May 22, 1973, I
appointed a Task Force on Deferred Compensation, and
charged it with reviewing all public sector Deferred
Compensation Plans and developing a comprehensive
plan which will be most advantageous to State
employees; and

WHEREAS, By Chapter 433 of the Acts of 1974, the
General Assembly directed the Secretary of
Personnel, with the advice of the Task Force on
Deferred Compensation, to develop a deferred
compensation plan for State employees which will
meet the criteria for approval by the Internal
Revenue Service, and to report his recommendations
to me; and

WHEREAS, Said Chapter 433 further authorized me, upon
receipt of the Secretary's recommendations, to
inaugurate and implement a deferred compensation
plan by Executive Order, without the need for
further legislative action; and

WHEREAS, Said Chapter 433 further authorized me to
provide for an Indenture of Trust and a Board of
Trustees to superintend the administration of the
Plan, and

WHEREAS, Pursuant to the foregoing authority, the
Secretary of Personnel, with the advice of the Task
Force on Deferred Compensation has recommended to me
a Plan of Deferred Compensation for State Employees,
which is embodied in the Maryland State Employees
Deferred Compensation Plan, Participation
Agreements, and a Trust Indenture;

HOW, THEREFORE, I, MARVIN MANDEL, GOVERNOR OF MARYLAND,
BY VIRTUE OF THE AUTHORITY VESTED IN ME BY ARTICLE
II, SECTIONS 9, 10, AND 24 OF THE CONSTITUTION OF
MARYLAND AND BY THE SAID CHAPTER 433 OF THE ACTS OF
1974 HEREBY PROMULGATE THE FOLLOWING ORDER,
EFFECTIVE IMMEDIATELY;

1.    The Plan of Deferred Compensation for State
Employees as provided in the Maryland State
Employees Deferred Compensation Plan, the
Participation Agreement, and the Trust
Indenture, attached hereto and made a part
hereof, is established.

2.    The Board of Trustees of the Maryland State
Employees Deferred Compensation Plan is
created, and shall consist of the following
persons, each to serve at the pleasure of the
Governor: