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Session Laws, 1985
Volume 760, Page 3502   View pdf image
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3502

LAWS OF MARYLAND

Ch. 741

4.

(A)  THIS SECTION APPLIES ONLY TO EMPLOYEES AS DEFINED IN
§ 1 OF ARTICLE 64A.

(B)  THE BOARD OF TRUSTEES SHALL DEVELOP, OBTAIN INTERNAL
REVENUE SERVICE APPROVAL OF, AND ADMINISTER A PROFIT SHARING AND
SALARY REDUCTION PLAN FOR EMPLOYEES OF THE STATE, AS PERMITTED
UNDER § 401(K) OF THE INTERNAL REVENUE CODE.

(C)  UNDER THE PLAN, FOR ANY FISCAL YEAR THAT THE STATE HAS
A SURPLUS OF REVENUES OVER EXPENDITURES, IN THE FOLLOWING FISCAL
YEAR THE GENERAL ASSEMBLY SHALL MAY APPROPRIATE CONTRIBUTIONS OF
A PARTICIPATING EMPLOYEE TOWARD A PROFIT SHARING AND SALARY
REDUCTION PLAN UNDER THIS SECTION.

5.

(A)  IN THIS SECTION, "STATE EMPLOYEES" MEANS THOSE OFFICERS
AND EMPLOYEES OF THE STATE OF MARYLAND WHO ARE PAID THROUGH THE
CENTRAL PAYROLL BUREAU OR ARE AUTHORIZED TO BE PAID THROUGH THE
CENTRAL PAYROLL BUREAU PURSUANT TO § 38A OF ARTICLE 64A. IT
INCLUDES MEMBERS OF THE GENERAL ASSEMBLY, JUDGES OF THE COURT OF
APPEALS, THE COURT OF SPECIAL APPEALS, THE VARIOUS CIRCUIT
COURTS, THE DISTRICT COURT, THE MARYLAND TAX COURT, AND THE
VARIOUS ORPHANS' COURTS, AND PART-TIME AND CONTRACTUAL EMPLOYEES
PAID THROUGH THE CENTRAL PAYROLL BUREAU BY § 38A OF ARTICLE 64A,
THE CLERKS OF THE COURTS IN ALL COUNTIES AND BALTIMORE CITY AND
ALL EMPLOYEES IN THE OFFICE OF THE CLERKS OF COURTS, REGISTERS OF
WILLS IN ALL COUNTIES AND BALTIMORE CITY AND ALL EMPLOYEES IN THE
OFFICE OF THE REGISTER OF WILLS, AND ALL CONTRACTUAL EMPLOYEES OF
THE STATE OF MARYLAND, WHETHER OR NOT THEY ARE PAID THROUGH THE
CENTRAL PAYROLL BUREAU OR AUTHORIZED TO BE PAID THROUGH THE
CENTRAL PAYROLL BUREAU BY § 38A OF ARTICLE 64A. IN CASES OF
DOUBT AS TO WHETHER A PERSON IS ELIGIBLE FOR PARTICIPATION IN THE
DEFERRED COMPENSATION PLAN AUTHORIZED BY THIS SECTION, THE BOARD
OF TRUSTEES SHALL DETERMINE WHETHER ANY PERSON IS A STATE
EMPLOYEE AS DEFINED IN THIS SECTION IRRESPECTIVE OF THE METHOD OF
PAYMENT.

(B)  THE BOARD OF TRUSTEES SHALL CONTINUE THE DEFERRED
COMPENSATION PLAN FOR STATE EMPLOYEES ESTABLISHED BY EXECUTIVE
ORDER 01.01.1974.19, AUGUST 15, 1974.

(C)  SUBJECT TO CONDITIONS THAT MAY BE ESTABLISHED BY THE
BOARD OF TRUSTEES, AN EMPLOYEE MAY, IN ACCORDANCE WITH A CONTRACT
WITH THE EMPLOYER, DEFER, IN WHOLE OR IN PART, THE EMPLOYEE'S
COMPENSATION.

6.

(A) THE DEFERRED COMPENSATION, TAX DEFERRED ANNUITY, AND
PROFIT SHARING AND SALARY REDUCTION PLANS AUTHORIZED BY THIS
ARTICLE SHALL EXIST AND SERVE IN ADDITION TO ANY OTHER

 

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Session Laws, 1985
Volume 760, Page 3502   View pdf image
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