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§ 12-501. Limitation on liability of employer

West's Annotated Code of MarylandLabor and EmploymentEffective: July 1, 2016

West's Annotated Code of Maryland
Labor and Employment
Title 12. Maryland Small Business Retirement Savings Program and Trust (Refs & Annos)
Subtitle 5. Limitation of Liability (Refs & Annos)
Effective: July 1, 2016
MD Code, Labor and Employment, § 12-501
§ 12-501. Limitation on liability of employer
Currentness
In general
(a) An employer may not be held liable for:
(1) an employee's decision to participate in or opt out of the Program;
(2) the investment decisions of employees whose assets are deposited in the Program;
(3) the administration, investment, or investment performance of the Trust or the Program; or
(4) the Program design or the benefits paid to Program participants.
Employer is not a fiduciary
(b) An employer is not a fiduciary, and may not be considered to be a fiduciary, of the Trust or the Program.

Credits

Added by Acts 2016, c. 323, § 1, eff. July 1, 2016; Acts 2016, c. 324, § 1, eff. July 1, 2016.
MD Code, Labor and Employment, § 12-501, MD LABOR & EMPLY § 12-501
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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