WILLIAM DONALD SCHAEFER, Governor

Ch. 6

The State Personnel and Pensions Article Review Committee notes, for the
consideration of the General Assembly, that subsections (b)(2) and (c) of this
section require that the expenses of the Board of Trustees be reimbursed on
an "equal basis". The Committee is uncertain how this requirement will be
interpreted or applied. The Committee also notes that it may be difficult to
ensure that a recalcitrant designated company makes the reimbursement.

Defined terms: "Annuity contract" § 30-101                                                       

"Board of Trustees" § 20-101
"Designated company" § 30-101
"Program" § 30-101

30-210. DUTIES OF EMPLOYING INSTITUTIONS.

WITH RESPECT TO A PARTICIPATING EMPLOYEE WHO IS EMPLOYED BY AN
EMPLOYING INSTITUTION OR AN INSTITUTION OVER WHICH THE EMPLOYING
INSTITUTION HAS ADMINISTRATIVE AUTHORITY, THE EMPLOYING INSTITUTION
SHALL ADMINISTER THE PARTICIPATING EMPLOYEE'S ENROLLMENT,
TERMINATION, OR RETIREMENT.

REVISOR'S NOTE: This subsection formerly was Art. 73B, § 11-109.

The only change is in style.

Defined terms: "Employing institution" § 30-101
"Participating employee" § 30-101
"Retirement" § 20-101

30-211. DUTIES OF DESIGNATED COMPANIES.

(A)     INFORMATION TO BE PROVIDED.

BEFORE ENROLLING A PARTICIPATING EMPLOYEE, EACH DESIGNATED
COMPANY SHALL PROVIDE TO ELIGIBLE EMPLOYEES, THE BOARD OF TRUSTEES,
AND THE EMPLOYING INSTITUTIONS ANY INFORMATION REQUESTED, INCLUDING A
FULL DISCLOSURE OF THE ENTIRE COMPENSATION PROVIDED TO THE SENIOR
EXECUTIVES OF THE DESIGNATED COMPANY, AND ANY INFORMATION REQUESTED
REGARDING THE DESIGNATED COMPANY OR THE ANNUITY CONTRACTS OFFERED
BY THE DESIGNATED COMPANY.

(B)      SERVICES TO BE PROVIDED.

EACH DESIGNATED COMPANY SHALL PROVIDE AND PAY FOR ALL
ADMINISTRATIVE, INFORMATIONAL, AND COUNSELING SERVICES WITH RESPECT TO
THE ANNUITY CONTRACTS OFFERED BY THE DESIGNATED COMPANY.

(C)      COOPERATION REQUIRED.

EACH DESIGNATED COMPANY SHALL COOPERATE WITH THE EMPLOYING
INSTITUTION IN CONNECTION WITH ANY CONCERNS THAT RELATE TO
ENROLLMENT, TERMINATION, OR RETIREMENT OF A PARTICIPATING EMPLOYEE.

(D)     DISCLOSURE OF CHARGES REQUIRED.

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