Ch. 698

LAWS OF MARYLAND

LIMITED TO, THE AREAS OF HOUSING, TRANSPORTATION, EDUCATION,
RECREATION, AND HEALTH CARE; AND

(II) IS A NEW SIGNATORY TO THESE PRINCIPLES OR
HAS DEMONSTRATED THAT IT IS MAKING PROGRESS OR GOOD PROGRESS IN
IMPLEMENTING THESE PRINCIPLES.

(C) THE EXECUTIVE DIRECTOR OF THE STATE RETIREMENT
AGENCY SHALL CONSULT WITH THE INVESTMENT COMMITTEE IN DEVELOPING,
INTERPRETING, AND ADMINISTERING ANY REQUIREMENT RELATING TO THESE
POLICIES.

[(6)] (13) (a) The State Retirement Agency may provide
benefit determination data and other technical assistance on the
written request of a participating municipal corporation that
desires to establish a separate additional program of interim or
supplemental allowances for a class or classes of its officers
and employees as authorized in paragraph (c) of this subsection.

(b)  The State Retirement Agency shall charge any
municipal corporation making a request under paragraph (a) of
this subsection for the expenses incurred in connection with the
preparation of the data and the provision of the technical
assistance.

(c)  A participating municipal corporation may
establish, by law, a separate additional program of interim or
supplemental allowances for a class or classes of its officers
and employees. The program shall be funded by the municipal
corporation separate and apart from any benefits provided under
the provisions of this article.

[161.

(1)  There is a State Investment Agency which shall be
responsible for the investment of the funds of the several
systems as specified by the State Investment Council and approved
by the Board of Trustees.

(2)  (a) There shall be an executive director for
investments who shall be the executive and administrative head of
the State Investment Agency and shall be responsible for
planning, directing, coordinating, and executing the functions of
the Agency in conformance with regulations and policies
established by the Board of Trustees. The executive director for
investments shall be appointed by the Board of Trustees and shall
serve at the pleasure of the Board. The executive director shall
be qualified by training and prior experience to manage,
administer, and direct the investment of funds.

(b) In the event the executive director for
investments vacates his position or becomes incapacitated, the
chairman of the Board of Trustees, with the advice of members of

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