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§ 2-516. State Employees and Retirees Health and Welfare Benefits Fund

West's Annotated Code of MarylandState Personnel and PensionsEffective: June 1, 2011

West's Annotated Code of Maryland
State Personnel and Pensions (Refs & Annos)
Division I. State Personnel [Titles 1-19]
Title 2. State Employment Generally
Subtitle 5. Health and Welfare Benefits Program (Refs & Annos)
Effective: June 1, 2011
MD Code, State Personnel and Pensions, § 2-516
§ 2-516. State Employees and Retirees Health and Welfare Benefits Fund
Currentness
Fund defined
(a) In this section, “Fund” means the State Employees and Retirees Health and Welfare Benefits Fund established under this section.
Purpose and nature of Fund
(b)(1) A special reserve fund is established to retain certain State revenues and State general and special funds for the purpose of funding the State Employee and Retiree Health and Welfare Benefits Program established under this subtitle.
(2) The Fund is a continuing, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(3) The Treasurer shall separately hold and the Comptroller shall account for the Fund.
(4)(i) The Fund shall be invested and reinvested in the same manner as other State funds.
(ii) Any investment earnings shall be credited to the Fund.
Contents of Fund
(c) The Fund consists of money appropriated for State Employee and Retiree Health Insurance or authorized to be transferred to that purpose in the State budget.
Fund used only for funding State costs of Program
(d)(1) Except as otherwise provided in this section, the Fund shall be retained in reserve and may not be spent for any purpose.
(2) Subject to the budget amendment procedure provided for in § 7-209 of the State Finance and Procurement Article, money credited to the Fund may be used only for the purpose of funding the State costs of the State Employee and Retiree Health and Welfare Benefits Program.

Credits

Added by Acts 2005, c. 444, § 1, eff. July 1, 2005. Amended by Acts 2009, c. 487, § 1, eff. June 1, 2009; Acts 2011, c. 397, § 1, eff. June 1, 2011; Acts 2015, c. 22, § 5.
MD Code, State Personnel and Pensions, § 2-516, MD ST PERS & PENS § 2-516
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document