SB 353 Optional Retirement Program Annuity Contracts Employee Rights
Maryland 2017 Regular Session
Optional Retirement Program - Annuity Contracts - Employee Rights
SB-353
About SB-353
Repealing a requirement that annuity contracts purchased under the optional retirement program shall be issued to and become the property of participating employees of the program; clarifying that the rights of participating employees who purchase annuity contracts under the program are fully vested and not subject to forfeit; authorizing a participating employee in the optional retirement program to select specified annuity contracts for the transfer of existing balances; applying the Act prospectively; etc.
Bill Texts
Chaptered 05/08/2017
Enrolled 04/10/2017
Engrossed 03/07/2017
Introduced 01/25/2017
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