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PARRIS N. GLENDENING, Governor
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H.B. 705
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of the Internal Revenue Code or any other provision of federal law that authorizes
supplemental retirement accounts.
Senate Bill 686, which was passed by the General Assembly and signed by me,
accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 705.
Sincerely,
Parris N. Glendening
Governor
House Bill No. 705
AN ACT concerning
Optional Retirement Program - Supplemental Annuities
FOR the purpose of clarifying the authority of certain higher education institutions to
establish certain supplemental retirement plans and offer supplemental
annuities and deferred compensation plans to their employees under provisions
of the Internal Revenue Code; providing for the application of this Act; and
generally relating to the Optional Retirement Program and supplemental
retirement annuities.
BY repealing and reenacting, without amendments,
Article - State Personnel and Pensions
Section 30-101
Annotated Code of Maryland
(1997 Replacement Volume and 2001 Supplement)
BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 30-210
Annotated Code of Maryland
(1997 Replacement Volume and 2001 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
30-101.
(a) In this title the following words have the meanings indicated.
(b) (1) "Annuity contract" means a fixed or variable annuity contract of
combination of fixed or variable annuity contracts authorized under § 403(a) or (b) of
the Internal Revenue Code.
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