Maryland Statutes
Division II - Pensions
Title 30 - Optional Retirement Program

Subtitle 1 - Definitions

Section 30-101 - Definitions - (a) In this title the following words have the meanings...

Subtitle 2 - Optional Retirement Program

Section 30-201 - Establishment of Program - (a) There is an optional retirement program in which eligible...

Section 30-202 - Powers and Duties of Board of Trustees - (a) The Board of Trustees may designate not more than...

Section 30-203 - Written Plan Document; Regulations - The Board of Trustees shall adopt and maintain a written...

Section 30-204 - Limitation on Responsibility of Board of Trustees - The Board of Trustees is not responsible for: (1) retirement...

Section 30-205 - Contributions - (a) Under the program, the State and the participating employees...

Section 30-206 - Annuity Contracts -- Right to Benefits Fully Vested and Nonforfeitable - In accordance with § 403(b) of the Internal Revenue Code,...

Section 30-207 - Benefits - Benefits under the program: (1) shall be payable to participating...

Section 30-208 - Review of Designated Companies and Annuity Contracts - (a) Every 3 years the Board of Trustees shall review...

Section 30-209 - Expense Fund - (a) There is an expense fund for the program to...

Section 30-210 - Duties of Employing Institutions - With respect to a participating employee who is employed by...

Section 30-210.1 - Indemnification of Covered Individuals Made Party to Action - (a) In this section, “covered individual” means an employee of...

Section 30-211 - Duties of Designated Companies - (a) Before enrolling a participating employee, each designated company shall...

Section 30-212 - Indemnification - A designated company or a company authorized to provide supplemental...

Subtitle 3 - Participation

Section 30-301 - Eligible Employees - (a) An individual is eligible to participate in the program...

Section 30-302 - Election to Participate -- in General - (a) An election to participate in the program shall be...

Section 30-303 - Election to Participate -- Employees Employed on or After October 1, 1993 - (a) An eligible employee shall elect to: (1) join a...

Section 30-304 - Election to Participate -- Transfer on or Before July 1, 1981 - Unless an eligible employee transferred to a pension system on...

Section 30-305 - Election to Participate -- Change in Employee Status - (a) This section applies only to a State employee who...

Section 30-306 - Application for Contract Required - An election of the program by an eligible employee is...

Section 30-307 - Effect of Participation - (a) (1) This subsection applies to an election to participate...

Subtitle 4 - Supplemental Retirement Plans

Section 30-401 - Establishment; Selection of Companies; Contributions; Assets; Indemnification - (a) An employing institution may: (1) establish supplemental retirement plans...