Section 21-112 - [Effective 7/1/2024] Board of Trustees - Annual report and statement(a) Each year the Board of Trustees shall: (1) publish a consolidated report that includes: (i) the fiscal transactions of the several systems for the preceding fiscal year;(ii) the amount of the accumulated cash, securities, and other assets of each State system; and(iii) the last balance sheet that shows the financial condition of each State system by means of an actuarial valuation of the assets and liabilities of the State system; and(2) provide each member and retiree with a statement on the State Retirement Agency's website that: (i) summarizes the information in the report under item (1) of this subsection; and(ii) explains any material modifications to the applicable State system during the period covered by the annual report.
(b) The Board of Trustees shall make the following information available to each member and retiree through a secure access participant portal:(1) the member's vested benefits or the benefits the member will be entitled to on vesting;(2) the date when the member was or will be vested; and(3) the present value of any annuity.Amended by 2024 Md. Laws, Ch. 665,Sec. 1, eff. 7/1/2024.Amended by 2024 Md. Laws, Ch. 664,Sec. 1, eff. 7/1/2024.This section is set out more than once due to postponed, multiple, or conflicting amendments.