ROBERT L. EHRLICH, JR., Governor

Ch. 403

fiduciary conduct and board governance, during a certain period of time;
requiring the State Retirement Agency to submit certain reports to the
Department of Legislative Services; altering the membership of a certain
clarifying the criteria that certain members of the investment committee of the
Board of Trustees must meet; creating an Employee Retirement Benefits
Commission; providing for the membership and terms of the Commission;
requiring the Commission to meet and review certain retirement benefits every
certain number of years; requiring the Commission to submit a certain report by
certain dates; requiring the Governor to include certain funding in the budget if
the Governor makes a determination to implement certain recommendations
requiring the Department of Budget and Management to conduct or to hire a
certain independent third party to conduct a certain study during a certain
period of time; requiring the Department of Budget and Management or a certain
independent third party to submit a certain report to the Chairman of the Joint
Committee on Pensions on or before a certain date; providing for the terms of
office of certain trustees on the Board of Trustees for the State Retirement and
Pension System; providing for the effective dates of this Act; and generally
relating to the Board of Trustees for the State Retirement and Pension System.

BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 21-104 and 21-108, 21-108, and 21 115 21-115(b)
Annotated Code of Maryland
(1997 Replacement Volume and 2002 Supplement)

BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 21-104(a)
Annotated Code of Maryland
(1997 Replacement Volume and 2002 Supplement)
(As enacted by Section 1 of this Act)

BY adding to

Article - State Personnel and Pensions

Section 33-101 to be under the new title "Title 33. Miscellaneous"

Annotated Code of Maryland

(1997 Replacement Volume and 2002 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

21-104.

(a) The Board of Trustees consists of the following 14 trustees:
(1) the Secretary of Budget and Management, ex officio;

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