State Retirement and Pension System - Earnable Compensation, Nonvested Former Members, and Immediate Vesting
Sponsor: Carl Jackson (District 8)Committee: Budget and TaxationSubject: State Government - Pensions and RetirementStatus: Approved by the Governor - Chapter 191 (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; providing a list of individuals who immediately vest on taking certain offices; etc.
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Testimony (7)
MGA witness listFAV 6FavorableUNF 1Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Jackson, Michael | Senate of Maryland | Written (PDF) |
| FAV | Jackson, Michael | Senate of Maryland | Written (PDF) |
| FAV | Gawthrop, Anne | State Retirement and Pension System | Oral + Written (PDF) |
| FAV | Gawthrop, Anne | State Retirement and Pension System | Written (PDF) |
| FAV | Senator Jackson, Senator Jacksonlegislator | Individual | Oral |
| FAV | Senator Jackson, Senator Jacksonlegislator | Individual | Oral |
| UNF | Lee, Mickey | Individual | Position only |