Legislation - HB0605

Title: Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans - Automatic Enrollment
Sponsored by: The Speaker (By Request - State Treasurer)
Status: In the House - First Reading Appropriations
Analysis

Synopsis

Requiring the State Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans to implement an automatic enrollment arrangement for State employees who are hired on or after January 1, 2026; and requiring an eligible employer to deduct wages of an employee for contribution to a supplemental retirement plan, unless the employee has elected to withdraw from or cease to contribute to the supplemental retirement plan within 90 days after the first automatic deduction of the contribution from wages.

Committees

Original:: Appropriations

Details

Introduced in a prior session as: SB0322 Session: 2024 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber House Calendar Date 1/23/2025 Legislative Date 1/23/2025 Action First Reading Appropriations Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans - Automatic Enrollment Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/23/2025	1/23/2025	First Reading Appropriations
			Text - First - Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans - Automatic Enrollment

File Code

Subjects

Statutes