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Ch. 617
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ROBERT L. EHRLICH, JR., Governor
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CHAPTER 617
(House Bill 1396)
AN ACT concerning
St. Mary's College of Maryland - Supplemental Retirement Plans
FOR the purpose of exempting certain employees of St. Mary's College of Maryland
from participating in the Optional Defined Contribution System under certain
circumstances; authorizing the Board of Trustees of St. Mary's College of
Maryland to adopt certain supplemental retirement plans; requiring certain
supplemental retirement plans to provide certain employees participating in
these plans with a certain level of employer contributions; and generally
relating to the Board of Trustees of St. Mary's College of Maryland establishing
supplemental retirement plans for its employees.
BY adding to
Article - State Personnel and Pensions
Section 32-208
Annotated Code of Maryland
(2004 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Personnel and Pensions
32-208.
(A) AN ELIGIBLE EMPLOYEE, AS DEFINED IN § 32-101(B) OF THE THIS TITLE,
OF ST. MARYS COLLEGE OF MARYLAND MAY NOT PARTICIPATE IN THE OPTIONAL
DEFINED CONTRIBUTION SYSTEM, AS PROVIDED IN THIS TITLE, IF THE EMPLOYEE IS
ELIGIBLE TO PARTICIPATE IN A MATCHING SUPPLEMENTAL RETIREMENT DEFINED
CONTRIBUTION PLAN OR A MATCHING FEATURE OF A SUPPLEMENTAL RETIREMENT
PLAN ADOPTED AND ADMINISTERED BY THE BOARD OF TRUSTEES OF ST. MARYS
COLLEGE OF MARYLAND.
(B) THE BOARD OF TRUSTEES OF ST. MARYS COLLEGE OF MARYLAND MAY
ADOPT AND ADMINISTER FOR EMPLOYEES OF ST. MARYS COLLEGE OF MARYLAND:
(1) A MATCHING SUPPLEMENTAL RETIREMENT DEFINED
CONTRIBUTION PLAN; OR
(2) A MATCHING FEATURE TO ANOTHER SUPPLEMENTAL RETIREMENT
PLAN ADOPTED AND ADMINISTERED BY THE BOARD OF TRUSTEES.
(C) FOR ANY FISCAL YEAR, ANY PLAN ESTABLISHED UNDER SUBSECTION (B)
OF THIS SECTION SHALL PROVIDE TO EMPLOYEES DESCRIBED UNDER SUBSECTION
(A) OF THIS SECTION AND WHO PARTICIPATES IN THE ST. MARYS COLLEGE OF
MARYLAND SUPPLEMENTAL PLAN OR FEATURE, NOT LESS THAN THE SAME LEVEL
- 2873 -
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