Ch. 620                                    1996 LAWS OF MARYLAND

SUPPLEMENTAL RETIREMENT ACCOUNTS TO THOSE EMPLOYEES AND SHALL
ADMINISTER THE PARTICIPATION OF THOSE EMPLOYEES IN THE SUPPLEMENTAL
RETIREMENT ACCOUNT.

(2) CONTRIBUTIONS AUTHORIZED UNDER THIS SUBSECTION TO A
SUPPLEMENTAL RETIREMENT ACCOUNT ON BEHALF OF AN 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

SECTION 2. AND BE IT FURTHER ENACTED, That a company that is
authorized by an employing institution to offer supplemental retirement products to State
employees as of June 30. 1996, may continue to offer those products on the same basis
and to the same class of State employees as on June 30, 1996 with the approval or the
acquiescence of the relevant employing institution and may offer any other products to
any person with the approval of the relevant employing institution.

SECTION 3. AND BE IT FURTHER ENACTED, That an employee who is
participating in the Optional Retirement Program on June 30, 1996 and has been making
voluntary contributions to a company designated under the Optional Retirement Program
may continue to make voluntary contributions to their existing retirement annuity
accounts on or before December 31, 1996.

SECTION 4. AND BE IT FURTHER ENACTED. That Section 1 of this Act is
applicable to contributions made to supplemental retirement accounts on or after January
1, 1997.

SECTION 2. 5. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1996.

Approved May 23, 1996.

CHAPTER 620
(House Bill 403)

AN ACT concerning

Retirement and Pension Systems - Reemployment of Disability Retirees

FOR the purpose of repealing certain provisions of law that apply to retirees of certain
State retirement and pension systems receiving a disability retirement allowance
who are reemployed by certain employers; providing that disability retirees, on
reemployment by certain employers, may not receive eligibility service or creditable
service or have their compensation subject to certain employer pickup provisions or
other reductions or deductions as member contributions; requiring the State
Retirement Agency to institute certain reporting procedures; requiring certain
employers to provide the State Retirement Agency with certain information; and
generally relating to the reemployment of disability retirees by certain employers.

BY repealing and reenacting, without amendments,

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