PARRIS N. GLENDENING, Governor                             Ch. 619

BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 30-205 and 30-210
Annotated Code of Maryland
(1994 Volume and 1995 Supplement)

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

Article - State Personnel and Pensions

30-205.

(a)     Under the program, the State and the participating employees shall
contribute, to the extent [authorized or] required, toward the purchase of annuity
contracts.

(b)     [(1) For employee contributions, a participating employee may elect to make
contributions to no more than one designated company under the program for the same
payroll period.

(2) For employer contributions, a] A participating employee may elect to
make contributions to no more than two designated companies under the program for the
same payroll period, if the Board of Trustees determines that the election of more than
one designated company is administratively feasible.

(c)     (1) On behalf of each participating employee, the State shall contribute
7.25% of the participating employee's annual earnable compensation.

(2) If a participating employee's compensation is paid from special or
federal funds or both, the State's contribution to the program shall be paid from those
funds.

(d)     [Contributions authorized or required by this section on behalf of each
participating employee may be made by payroll deduction or by a reduction in salary in
accordance with § 403(b) or § 414(h) of the Internal Revenue Code.

(e)] The Central Payroll Bureau shall pay contributions to the appropriate
designated company for the benefit of each participating employee.

30-210.

(A)    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 UNDER THE PROGRAM.

(B)     (1) IF AN EMPLOYING INSTITUTION AUTHORIZES ITS EMPLOYEES OR
THE EMPLOYEES OF AN INSTITUTION OVER WHICH IT HAS ADMINISTRATIVE
AUTHORITY TO PARTICIPATE IN A SUPPLEMENTAL RETIREMENT ACCOUNT, THE
EMPLOYING INSTITUTION SHALL DESIGNATE THE COMPANIES THAT MAY OFFER

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