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§ 30-211. Duties of designated companies

West's Annotated Code of MarylandState Personnel and PensionsEffective: July 1, 2017

West's Annotated Code of Maryland
State Personnel and Pensions (Refs & Annos)
Division II. Pensions [Titles 20-34] (Refs & Annos)
Title 30. Optional Retirement Program
Subtitle 2. Optional Retirement Program (Refs & Annos)
Effective: July 1, 2017
MD Code, State Personnel and Pensions, § 30-211
§ 30-211. Duties of designated companies
Currentness
Disclosure of information to employees, Board, and employing institutions
(a) Before enrolling a participating employee, each designated company shall provide to eligible employees, the Board of Trustees, and the employing institutions any information requested, including a full disclosure of the entire compensation provided to the senior executives of the designated company, and any information requested regarding the designated company or the annuity contracts offered by the designated company.
Administrative, informational, and counseling services
(b) Each designated company shall provide and pay for all administrative, informational, and counseling services with respect to the annuity contracts offered by the designated company.
Cooperation with employing institution
(c) Each designated company shall cooperate with the employing institution in connection with any concerns that relate to enrollment, termination, or retirement of a participating employee.
Disclosure of fees, commissions, and other charges
(d) Each designated company shall disclose to the Board of Trustees all fees, commissions, or other charges the designated company imposes or collects with respect to an annuity contract.

Credits

Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2017, c. 275, § 1, eff. July 1, 2017; Acts 2017, c. 276, § 1, eff. July 1, 2017.
Formerly Art. 73B, § 11-110.
MD Code, State Personnel and Pensions, § 30-211, MD ST PERS & PENS § 30-211
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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