State Retirement and Pension System - Earnable Compensation, Nonvested Former Members, and Immediate Vesting
Sponsor: Catherine M. Forbes (District 43B)Committee: AppropriationsSubject: State Government - Pensions and RetirementStatus: Approved by the Governor - Chapter 192 (as of Nov 9, 2023)
What this bill does
Official synopsis
Specifying that the definition of 'earnable compensation' does not include certain payments requiring the Board of Trustees for the State Retirement and Pension System to pay a nonvested former member's accumulated contributions to the nonvested former member's designated beneficiary or estate if the nonvested former member dies before withdrawing the member's contributions; and providing a list of individuals who immediately vest on taking certain offices.
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Testimony (4)
MGA witness listFAV 4Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Gilmore , Deniselobbyist | AFSCME Maryland | Written (PDF) |
| FAV | Gawthrop, Anne | State Retirement and Pension System | Oral + Written (PDF) |
| FAV | Delegate Forbes, Delegate Forbeslegislator | Individual | Oral |
| FAV | Parts, Susan | Individual | Written (PDF) |