§ 12-101. Definitions
West's Annotated Code of MarylandLabor and EmploymentEffective: June 1, 2018
Effective: June 1, 2018
MD Code, Labor and Employment, § 12-101
§ 12-101. Definitions
(c)(1) “Covered employee” means an individual who is employed by a covered employer.
(i) an employee covered under the federal Railway Labor Act (45 U.S.C. Sec. 151) or an employee engaged in interstate commerce so as not to be subject to the legislative powers of the State, except insofar as application of this title is authorized under the United States Constitution or laws of the United States;
(d)(1) “Covered employer” means a person engaged in a business, an industry, a profession, a trade, or any other enterprise in the State, whether for profit or not for profit, that pays the covered employer's employees through a payroll system or service.
(e) “Employer-offered savings arrangement” includes any of the following:
(f) “IRA” means an individual retirement account or an individual retirement annuity under 26 U.S.C. § 408(a) or (b).
(g) “Maryland Small Business Retirement Savings Program” means a retirement savings program established by the Maryland Small Business Retirement Savings Board under this title.
(h) “Participating employee” means an employee that is participating in the Program through a payroll deposit retirement savings arrangement in accordance with regulations adopted by the Board.
(i) “Participating employer” means a covered employer that provides a payroll deposit retirement savings arrangement under this title for covered employees.
(j) “Payroll deposit retirement savings arrangement” means an arrangement by which a covered employer remits payroll deduction contributions of participating employees to the Program.
(k) “Program” means the Maryland Small Business Retirement Savings Program established under this title.
Credits
Added by Acts 2016, c. 323, § 1, eff. July 1, 2016; Acts 2016, c. 324, § 1, eff. July 1, 2016. Amended by Acts 2018, c. 596, § 1, eff. June 1, 2018.
MD Code, Labor and Employment, § 12-101, MD LABOR & EMPLY § 12-101
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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