Section 21-110 - Board of Trustees - Regulations. - Maryland Statutes

§ 21-110. Board of Trustees - Regulations.
 

(a)  In general.- The Board of Trustees shall adopt regulations providing for: 

(1) the administration of the several systems; 

(2) the management of the assets of the several systems; 

(3) the transaction of its business; 

(4) the imposition of an administrative fee on any participating employer that fails to provide the information required by the State Retirement Agency to properly enroll eligible employees in the several systems; and 

(5) notwithstanding the provisions of § 9-602 of the Criminal Law Article, the management of monitoring and recording incoming telephone conversations to employees of the Member Services division of the State Retirement Agency, to telephones within the offices of the State Retirement Agency, for training and quality control purposes. 

(b)  Pensions or retirement systems established under Transportation Article.-  

(1) Subject to the approval of the Board of Public Works, the Board of Trustees may adopt regulations for the administration of funds of a pension or retirement system established under §§ 7-206 and 7-603 of the Transportation Article. 

(2) The Maryland Transit Administration shall pay all financing costs of a pension or retirement system established under §§ 7-206 and 7-603 of the Transportation Article, including the pro rata share of the administrative costs that the Board of Trustees incurs. 
 

[An. Code 1957, art. 73B, § 1-103; 1994, ch. 6, § 2; 2001, ch. 730; 2008, ch. 392; 2009, ch. 214.]