Total General Fund Appropriation...........................................

If Senate Bill 1 is enacted, the Retirement
Agency is directed to account for
expenditures resulting from the
administration of the provisions of the bill
separately and to fund such expenditures
via the normal budgetary process, i.e. by
budget amendment. Further, the agency
shall provide the budget committees and the
Department of Fiscal Services with a listing
of employees retiring as a result of such
legislation. This listing should be by eight
. digit budget code and include PIN number,
associated salary, the total increase in
actuarial liabilities resulting from
retirement incentives given, and the
resulting funding requirements. The listing
and accounting of administrative
expenditures shall be provided to the budget
committees and the Department of Fiscal
Services by January 1, 1997.

If early retirement incentive legislation (for
example. Senate Bill 1) or buyout incentive
legislation (for example. House Bill 1000) is
enacted, it is the intent of the General
Assembly that the Maryland State
Retirement Agency account for any
expenditures resulting from the
administration of the bill separately and
that such expenditures be funded via the
normal budgetary process, i.e. by budget
amendment.

If early retirement incentive legislation (for
example. Senate Bill 1 and House Bill 1000) is
enacted, the Maryland State Retirement
Agency shall provide the budget committees
and the Department of Fiscal Services with a
listing of employees retiring as a result of such

SUMMARY

1996 LAWS OF MARYLAND

2,826,610

Ch. 13

MARYLAND STATE RETIREMENT AND PENSION SYSTEMS

STATE RETIREMENT AGENCY

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