In accordance with § 403(b) of the Internal Revenue Code, a participating employee’s rights to benefits under an annuity contract purchased under the program shall be fully vested and nonforfeitable.
Structure Maryland Statutes
Title 30 - Optional Retirement Program
Subtitle 2 - Optional Retirement Program
Section 30-201 - Establishment of Program
Section 30-202 - Powers and Duties of Board of Trustees
Section 30-203 - Written Plan Document; Regulations
Section 30-204 - Limitation on Responsibility of Board of Trustees
Section 30-205 - Contributions
Section 30-206 - Annuity Contracts -- Right to Benefits Fully Vested and Nonforfeitable
Section 30-208 - Review of Designated Companies and Annuity Contracts
Section 30-210 - Duties of Employing Institutions
Section 30-210.1 - Indemnification of Covered Individuals Made Party to Action