ROBERT L. EHRLICH, JR., Governor                           H.B. 262

(ii) authorize its employees or the employees of an institution over
which it has administrative authority to participate in one or more of the
supplemental retirement plans.

(2)     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 supplemental retirement accounts to those employees and
shall administer the participation of those employees in the supplemental retirement
[account] PLAN.

(3)     Contributions authorized under this subsection to a supplemental
retirement account on behalf of an employee may be made by payroll deduction, a
reduction in salary, or deferral in compensation in accordance with § 403(b), § 457, or
§ 414(h) of the Internal Revenue Code.

(4)      ASSETS OF THE SUPPLEMENTAL RETIREMENT PLANS MAY BE
DEPOSITED AND INVESTED IN ACCORDANCE WITH THE INVESTMENT ELECTIONS
ALLOWED UNDER THE SUPPLEMENTAL RETIREMENT PLANS NOTWITHSTANDING
ANY OTHER LAW LIMITING THE TYPES OF INVESTMENTS THAT MAY BE MADE WITH
STATE FUNDS OR IMPOSING CONDITIONS ON THE DEPOSIT OF STATE FUNDS.

(5)      AN EMPLOYEE OF AN EMPLOYING INSTITUTION WITH
DISCRETIONARY AUTHORITY OVER THE MANAGEMENT OR ADMINISTRATION OF ANY
OF THE SUPPLEMENTAL RETIREMENT PLANS OR THE MANAGEMENT OR
DISPOSITION OF THE ASSETS OF ANY OF THE SUPPLEMENTAL RETIREMENT PLANS IS
ENTITLED TO INDEMNIFICATION AND INSURANCE AS PROVIDED UNDER § 30-210.1 OF
THIS SUBTITLE.

30-210.1.

(A)     IN THIS SECTION, "COVERED INDIVIDUAL" MEANS AN EMPLOYEE OF AN
EMPLOYING INSTITUTION WITH DISCRETIONARY AUTHORITY OVER THE
MANAGEMENT OR ADMINISTRATION OF ANY OF THE SUPPLEMENTAL RETIREMENT
PLANS OR THE MANAGEMENT OR DISPOSITION OF THE ASSETS OF ANY OF THE
SUPPLEMENTAL RETIREMENT PLANS.

(B)     SUBJECT TO THE PROVISIONS OF THIS SECTION, THE STATE SHALL
INDEMNIFY A COVERED INDIVIDUAL WHO IS, OR IS THREATENED TO BE MADE, A
PARTY TO AN ACTION OR PROCEEDING, INCLUDING AN ADMINISTRATIVE OR
INVESTIGATIVE PROCEEDING, BY REASON OF THE COVERED INDIVIDUAL'S SERVICE
AS AN EMPLOYEE OF AN EMPLOYING INSTITUTION WITH DISCRETIONARY
AUTHORITY OVER THE MANAGEMENT OR ADMINISTRATION OF ANY OF THE
SUPPLEMENTAL RETIREMENT PLANS OR THE MANAGEMENT OR DISPOSITION OF
THE ASSETS OF ANY OF THE SUPPLEMENTAL RETIREMENT PLANS.

(C)     (1) IN THIS SUBSECTION, "EXPENSES" INCLUDE:

(I)      REASONABLE ATTORNEYS FEES;

(II)     JUDGMENTS;

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