Maryland SB338 extends the workgroup studying transfers between State and local retirement and pension systems.

Maryland SB338 extends the workgroup convened by the State Retirement Agency to study transfers of member service between State and local retirement and pension systems. The workgroup will make recommendations to improve the process of transfers between systems. The State Retirement Agency must submit a report of the workgroup's findings and recommendations, including the need for any legislative initiatives, to the Governor and specified committees by October 1, 2026. The Act will remain effective until June 30, 2027, after which it will be abrogated and of no further force and effect.

Maryland SB338 extends the workgroup studying transfers between State and local retirement and pension systems.

Maryland SB338 extends the workgroup convened by the State Retirement Agency to study transfers of member service between State and local retirement and pension systems. The workgroup will make recommendations to improve the process of transfers between systems. The State Retirement Agency must submit a report of the workgroup's findings and recommendations, including the need for any legislative initiatives, to the Governor and specified committees by October 1, 2026. The Act will remain effective until June 30, 2027, after which it will be abrogated and of no further force and effect.