Maryland legislation · 2025 Regular Session
Maryland HB1388: Employees' Pension System and Teachers' Pension System - Deferred Retirement Option Program - Establishment
Status: Vetoed, March 12, 2025
Establishing a Deferred Retirement Option Program for certain members of the Employees' Pension System and the Teachers' Pension System; and requiring the State Retirement Agency to seek a certain determination letter.
What the bill says
A bill ENTITLED AN ACT concerning Employees' Pension System and Teachers' Pension System - Deferred Retirement Option Program - Establishment FOR the purpose of establishing a Deferred Retirement Option Program for certain members of the Employees' Pension System and the Teachers' Pension System; requiring the State Retirement Agency to seek a certain determination letter; and generally relating to establishing a Deferred Retirement Option Program for certain members of the Employees' Pension System and the Teachers' Pension System…
From the introduced text, February 9, 2025:
A BILL ENTITLED AN ACT concerning Employees' Pension System and Teachers' Pension System - Deferred Retirement Option Program - Establishment FOR the purpose of establishing a Deferred Retirement Option Program for certain members of the Employees' Pension System and the Teachers' Pension System; requiring the State Retirement Agency to seek a certain determination letter; and generally relating to establishing a Deferred Retirement Option Program for certain members of the Employees' Pension System and the Teachers' Pension System. BY repealing and reenacting, without amendments, Article - State Personnel and Pensions Section 23-401 Annotated Code of Maryland (2024 Replacement Volume and 2024 Supplement) BY adding to Article - State Personnel and Pensions Section 23-401.1 Annotated Code of Maryland (2024 Replacement Volume and 2024 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - State Personnel and Pensions 23-401. (a) Except as provided in subsection (f) of this section, a member may retire with a normal service retirement allowance if: EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW. [Brackets] indicate matter deleted from exist in g l aw . *hb1388* HOUSE BILL 1388 (1) the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire; and (2) on or before …