- Title
- Maryland Teachers and State Employees Supplemental Retirement Plans - Automatic Enrollment
- Sponsored by
- Senator Jackson
- Status
- In the House - Favorable with Amendments Report by Appropriations
- Analysis
- Fiscal and Policy Note
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, 2025; 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
- Opposite:
- Appropriations Click to view Recorded Media
Committee Testimony
Details
Introduced in a prior session as: SB0006 Session: 2023 Regular Session
Bill File Type: Regular
Effective Date(s): October 1, 2024
History
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File Code
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Subjects
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Statutes
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(
35-101,
35-206 )
Last Updated: 4/15/2024 3:17 PM