WILLIAM DONALD SCHAEFER, Governor

Ch. 698

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

Approved May 27, 1988.

AN ACT concerning

CHAPTER 698

(House Bill 874)

Pensions - Investments

FOR the purpose of establishing an Investment Committee of the
Board of Trustees of the State Retirement and Pension
Systems; providing for its membership and duties; providing
for the appointment by the Board of Trustees of an Executive
Director instead of an Executive Director for
Administration; providing for the duties of the Executive
Director; providing for an Investment Division within the
State Retirement Agency, the appointment of a Chief
Investment Officer, the responsibilities and duties of the
Board of Trustees, the Executive Director, the Investment
Division, the Chief Investment Officer, and the State
Treasurer regarding investments; abolishing the State
Investment Agency and the State Investment Council and
transferring their responsibilities to the Board of
Trustees, its Investment Committee and the State Retirement
Agency; providing for certain transitional transfer
provisions; and generally relating to investments by the
Board of Trustees of the State Retirement and Pension
Systems.

BY repealing and reenacting, with amendments,

Article 73B - Pensions

Section 159 and 160

Annotated Code of Maryland

(1983 Replacement Volume and 1987 Supplement)

BY repealing

Article 73B - Pensions

Section 161

Annotated Code of Maryland

(1983 Replacement Volume and 1987 Supplement)

BY repealing and reenacting, with amendments,

- 4627 -