Section 32-101 - Definitions. - Maryland Statutes

§ 32-101. Definitions.
 

(a)  Definitions.- In this title the following words have the meanings indicated. 

(b)  Eligible employee.-  

(1) "Eligible employee" means a member of the Employees' Pension System or the Employees' Retirement System who is subject to Selection C (Combination Formula) as provided in § 22-221 of this article, other than: 

(i) an employee of a participating governmental unit or a former participating governmental unit that has withdrawn; or 

(ii) a member of the Employees' Pension System who transferred from the Employees' Retirement System after April 1, 1998. 

(2) "Eligible employee" includes: 

(i) a member of the Employees' Pension System who contributes to a State supplemental plan authorized by an employing institution as defined in § 30-101 of this article; or 

(ii) a member of the Employees' Pension System who is an employee of the Northeast Maryland Waste Disposal Authority. 

(c)  Optional Defined Contribution System.- "Optional Defined Contribution System" means the system established under § 32-201 of this title. 

(d)  Participating employee.- "Participating employee" means an eligible employee who participates in the Optional Defined Contribution System. 

(e)  State supplemental plan.-  

(1) "State supplemental plan" means a plan qualified under the Internal Revenue Code and: 

(i) administered by the Supplemental Board; or 

(ii) authorized for eligible employees by an employing institution as defined in § 30-101 of this article. 

(2) "State supplemental plan" includes: 

(i) a salary reduction plan qualified under § 401(k) of the Internal Revenue Code; 

(ii) a tax sheltered annuity plan qualified under § 403(b) of the Internal Revenue Code; 

(iii) a deferred compensation plan qualified under § 457 of the Internal Revenue Code; or 

(iv) a plan qualified under § 401(a) of the Internal Revenue Code. 

(f)  Supplemental Board.- "Supplemental Board" means the State Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans established under § 35-201 of this article. 
 

[1998, ch. 530, § 3; 1999, ch. 151; ch. 176, § 2; 2000, ch. 187.]