State Retirement and Pension System – Nonvested Accounts – Regular Interest
Sponsor: Karen Lewis Young (District 3)Committee: Budget and TaxationSubject: State Government - Pensions and RetirementStatus: Approved by the Governor - Chapter 234 (as of Nov 9, 2023)
What this bill does
Official synopsis
Requiring a certain rate of interest on certain member contributions in active members' nonvested accounts in the State Retirement and Pension System if the members have not withdrawn contributions from the nonvested accounts and are not eligible to receive a certain vested allowance; and applying the Act retroactively.
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Testimony (7)
MGA witness listFAV 6FavorableINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Gilmore , Deniselobbyist | AFSCME Maryland | Written (PDF) |
| FAV | Edwards, Donna | Maryland State & DC AFL-CIO | Written (PDF) |
| FAV | Lewis Young, Karen | Individual | Written (PDF) |
| FAV | Lewis Young, Karen | Individual | Written (PDF) |
| FAV | Senator Lewis Young, Senator Lewis Younglegislator | Individual | Oral |
| FAV | Senator Lewis Young, Senator Lewis Younglegislator | Individual | Oral |
| INFO | Gawthrop, Anne | State Retirement and Pension System | Oral |