HOUSE BILL 224

Sponsored By:

Chairman, Appropriations Committee (Departmental - University System of Maryland)

Entitled:

Optional Retirement Program - Employer Contribution Rate and Mandatory Employee Contributions

Synopsis:

Increasing the rate of employer contributions from 7.25% to 9.25% for participants in the Optional Retirement Program; requiring those participants to make mandatory contributions to the Optional Retirement Program at the rate of 2% of the participant's annual earnable compensation; etc.

History by Legislative Date

House Action

1/24

First Reading Appropriations

1/26

Hearing 2/9 at 11:00 a.m.

3/21

Favorable with Amendments Report by Appropriations

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/24

Third Reading Passed (139-0)

Senate Action

3/27

First Reading Budget and Taxation

3/28

Hearing 4/6 at 8:00 a.m.

4/4

Hearing cancelled

Hearing 4/6 at 8:30 a.m.

Sponsored by:

Chairman, Appropriations Comm.

Departmental

Bill indexed under the following Subjects:

RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT

STATE EMPLOYEES

STATE UNIVERSITIES AND COLLEGES

Bill affects the following Statute:

State Personnel and Pensions

( 30-205 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments:

House

Number: 734866/1 (PDF)     Offered on: March 21, 2000   at: 10:35 a.m.     Status: Adopted

Roll Call Vote (Legislative date is shown):

House

March 24, 2000: Third Reading Passed (139-0)