SENATE BILL 643

File Code: State Pensions and Retirement Crossfiled with: HOUSE BILL 1036

Sponsored By:

Senators Currie and Exum

Entitled:

Employees' Retirement and Pension Systems - Participating Governmental Units - Withdrawal Liability Payments

Synopsis:

Altering the method of computing assets that are to be transferred to a local pension system of, and the withdrawal liability contribution that is to be paid by, governmental units that withdraw their participation in the Employees' Retirement System and the Employees' Pension System under specified circumstances; repealing a requirement that a specified transition amount be deducted from assets that are to be transferred to the local pension system; etc.

History by Legislative Date

Senate Action

2/4

First Reading Budget and Taxation

2/9

Hearing 3/2 at 8:30 a.m.

House Action

No Action

Sponsored by:

Senator Ulysses Currie, District 25

Senator Nathaniel Exum, District 24

Bill indexed under the following Subjects:

ADMINISTRATIVE AGENCIES

COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES

LIABILITY -see also- GOOD SAMARITAN

MUNICIPAL CORPORATIONS -see also- ANNAP; BALT; HAGER; OC

PUBLIC EMPLOYEES -see also- STATE EMPLOYEES

RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT

STATE EMPLOYEES

Bill affects the following Statute:

State Personnel and Pensions

( 21-305.5 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered