Legislation - SB0270

Title: Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans - Automatic Enrollment
Sponsored by: Senator Jackson (By Request - State Treasurer)
Status: In the Senate - First Reading Budget and Taxation
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 in accordance with an automatic enrollment arrangement, unless the employee has elected to withdraw from or cease to contribute to the supplemental retirement plan.

Committees

Original:: Budget and Taxation

Details

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber Senate Calendar Date 1/09/2025 Legislative Date 1/09/2025 Action First Reading Budget and Taxation 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
Senate	1/09/2025	1/09/2025	First Reading Budget and Taxation
			Text - First - Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans - Automatic Enrollment

File Code

Subjects

Statutes