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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) An eligible employee, as defined in § 32-101(b) of this title, of St. Mary's College of Maryland may not participate in the Optional Defined Contribution System, as provided in this title, if the employee is eligible to participate in a matching supplemental retirement defined contribution plan or a matching feature of a supplemental retirement plan adopted and administered by the Board of Trustees of St. Mary's College of Maryland.
(b) The Board of Trustees of St. Mary's College of Maryland may adopt and administer for employees of St. Mary's College of Maryland:
(1) a matching supplemental retirement defined contribution plan; or
(2) a matching feature to another supplemental retirement plan adopted and administered by the Board of Trustees.
(c) For any fiscal year, any plan established under subsection (b) of this section shall provide to employees described under subsection (a) of this section and who participate in the St. Mary's College of Maryland supplemental plan or feature, not less than the same level of employer contributions that are available to participating employees under § 32-205 of this subtitle.
Cite this article: FindLaw.com - Maryland Code, State Personnel and Pensions § 32-208 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-personnel-and-pensions/md-code-st-pers-and-pens-sect-32-208/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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