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MD HB1034
Bill
Status
5/20/2025
Primary Sponsor
Catherine Forbes
Click for details
AI Summary
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Annual report deadline for the Investment Committee on minority business enterprise brokerage and investment management services firms changed from September 1 to November 1
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Annual report deadline for the Board of Trustees on venture capital investments changed from December 1 to December 31
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Deferred Retirement Option Program (DROP) eligibility language for State Police Retirement System members clarified to specify "employment in a position eligible for membership" rather than "eligibility service"
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DROP eligibility requirements remain: 22-32 years for members joining before July 1, 2011; 25-32 years for those joining on or after July 1, 2011; members must be under age 60 (except Secretary of State Police)
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Effective date: July 1, 2025
Legislative Description
State Retirement and Pension System – Alterations and Clarifications
Reports
Last Action
Approved by the Governor - Chapter 767
5/20/2025