Ch. 363                                1995 LAWS OF MARYLAND

Article - State Personnel and Pensions

21-123.

(c) (1) [(i) Subject to subparagraph (ii) of this paragraph, the] THE Board of
Trustees may invest assets of the several systems subject to the conditions that it imposes.

[(ii) Not more than 15% 25% of the assets that the Board of Trustees
invests in common stocks may be invested in nondividend paying common stocks.]

(2) The Board of Trustees shall include the conditions that it adopts under
paragraph (1) of this subsection in the investment operations manual required by §
21-116(c) of this subtitle.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1995.

Approved May 18, 1995.

CHAPTER 363
(Senate Bill 141)

AN ACT concerning

Pensions and Retirement - Local Elected Officials - Clarification of Retirement Rights on

Reemployment - Corrective Bill

FOR the purpose of clarifying that a certain offset in retirement benefits does not apply
to certain retirees who serve in certain elected positions; repealing certain obsolete
provisions of law; making certain technical and corrective changes; and providing
for the applicability of this Act.

BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 22-406(b), 22-407, and 23-407(b)
Annotated Code of Maryland
(1994 Volume)

BY repealing

Article - State Personnel and Pensions
Section 23-408
Annotated Code of Maryland
(1994 Volume)

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