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Ch. 499
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2005 LAWS OF MARYLAND
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Chapter 82 of the Acts of 2003
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect June 1, 2003. [It shall remain effective for a period of 2 years and, at the end of
May 31, 2005, with no further action required by the General Assembly, this Act shall
be abrogated and of no further force and effect.]
SECTION 3. AND BE IT FURTHER ENACTED, That:
(1) before June 1, 2007, a company may elect to apply the provisions of §§
16-503(b), (c), and (g) (g) and 16-504(b), (c), (d), and (e), and 16-510 and (d) of the
Insurance Article, as enacted by Section 1 of this Act, on an annuity contract form by
annuity contract form basis; and
(2) on or after June 1, 2007, a company shall apply provisions of the Insurance
Article, §§ 16-503(b), (c), and (g), (g) and 16-504(b), (c), (d), and (e), and 16-510 and
(d) of the Insurance Article, as enacted by Section 1 of this Act, to all annuity
contracts.
SECTION 4. AND BE IT FURTHER ENACTED, That this Act shall take
effect June 1, 2005.
Approved May 26, 2005.
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CHAPTER 499
(Senate Bill 663)
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AN ACT concerning
Retirement and Pensions - Reemployment of Retirees
FOR the purpose of exempting from a certain offset of a retirement allowance certain
retirees of the Employees' Retirement System, Employees' Pension System,
Teachers' Retirement System, or Teachers' Pension System; providing the
criteria for hiring certain retirees of the Employees' Retirement System,
Employees' Pension System, the Teachers' Retirement System, or the Teachers'
Pension System; providing that certain retirees of the Employees' Retirement
System, Employees' Pension System, the Teachers' Retirement System, or the
Teachers' Pension System may only be reemployed for a certain period of time;
prohibiting certain retirees from being rehired within a certain period of time
under certain circumstances; requiring certain local school superintendents to
approve certain hirings, determine certain placements, and certify certain
information within a certain period of time; requiring the Board of Trustees for
the State Retirement and Pension System and the State Department of
Education to review certain information from certain superintendents of local
school systems; requiring the Board of Trustees for the State Retirement and
Pension System to notify certain superintendents of local school systems of
certain findings; requiring certain local school superintendents to make certain
reimbursements under certain circumstances by a certain date; requiring the
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