Md. Code, State Pers. & Pens. § 21-112

Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024

Section 21-112 - [Effective Until 7/1/2024] Board of Trustees - Annual report and statement

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 that:

(i) summarizes the information in the report under item (1) of this section;

(ii) shows:

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; and

(iii) explains any material modifications to the applicable State system during the period covered by the annual report.

Md. Code, SPP § 21-112

This section is set out more than once due to postponed, multiple, or conflicting amendments.