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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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STATE PERSONNEL AND PENSIONS |
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DIVISION II. PENSIONS |
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TITLE 32. OPTIONAL DEFINED CONTRIBUTION SYSTEM |
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SUBTITLE 2. OPTIONAL DEFINED CONTRIBUTION SYSTEM |
§ 32-205.1. Northeast Maryland Waste Disposal Authority
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(a) Matching contribution eligibility. -- Employees of the Northeast Maryland Waste Disposal Authority who are members of the Employees' Pension System shall be eligible for a matching contribution if:
(1) the Supplemental Board determines that employees of the Northeast Maryland Waste Disposal Authority are eligible to participate in and contribute to one or more of the State supplemental plans; and
(2) the Northeast Maryland Waste Disposal Authority makes an irrevocable election to participate in the Optional Defined Contribution System.
(b) Amount of match. -- If the Northeast Maryland Waste Disposal Authority makes an election under this section, the Northeast Maryland Waste Disposal Authority shall be required to pay for each employee who makes contributions under § 32-204 of this subtitle, a contribution in an amount equal to the lesser of the employee's contributions or $ 600 per fiscal year, in the manner directed by the Supplemental Board.