2064

LAWS OF MARYLAND

Ch. 263

CHAPTER 263

(House Bill 139)

AN ACT concerning

Pensions - Annual Budget - Asset Management

FOR the purpose of requiring the Board of Trustees of the State
Pension and Retirement Systems to include in the annual
budget for the State Investment Agency an estimate of cost,
within a certain limit, for managing certain assets of the
State Pension and Retirement Systems by certain counseling
organizations; providing for the payment of money for these
assets management expenses to a certain fund on a certain
basis; providing for the use of these funds; making
stylistic changes; and generally relating to payment of the
expenses of certain retirement and pension systems asset
management.

BY repealing and reenacting, with amendments,

Article 73B - Pensions

Section 14(3), 89(3), 122(3), and 150(3)

Annotated Code of Maryland

(1983 Replacement Volume and 1984 Supplement)

BY repealing and reenacting, with amendments,

Article 88B - State Police

Section 56(3)

Annotated Code of Maryland

(1979 Replacement Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 73B - Pensions

14.

(3) (A) The Expense Fund shall be the fund to which shall
be credited all money provided in the budget to pay:

(I) [the] THE administration expenses of the
retirement system and from which shall be paid all the expenses
necessary in connection with the administration and operation of
the system; AND

(II) THE EXPENSES NECESSARY TO PROCURE AND
RETAIN EXTERNAL INVESTMENT COUNSELING ORGANIZATIONS.