Section 32-101 - Definitions.
§ 32-101. Definitions.
(a) Definitions.- In this title the following words have the meanings indicated.
(b) Eligible employee.-
(1) "Eligible employee" means a member of the Employees' Pension System or the Employees' Retirement System who is subject to Selection C (Combination Formula) as provided in § 22-221 of this article, other than:
(i) an employee of a participating governmental unit or a former participating governmental unit that has withdrawn; or
(ii) a member of the Employees' Pension System who transferred from the Employees' Retirement System after April 1, 1998.
(2) "Eligible employee" includes:
(i) a member of the Employees' Pension System who contributes to a State supplemental plan authorized by an employing institution as defined in § 30-101 of this article; or
(ii) a member of the Employees' Pension System who is an employee of the Northeast Maryland Waste Disposal Authority.
(c) Optional Defined Contribution System.- "Optional Defined Contribution System" means the system established under § 32-201 of this title.
(d) Participating employee.- "Participating employee" means an eligible employee who participates in the Optional Defined Contribution System.
(e) State supplemental plan.-
(1) "State supplemental plan" means a plan qualified under the Internal Revenue Code and:
(i) administered by the Supplemental Board; or
(ii) authorized for eligible employees by an employing institution as defined in § 30-101 of this article.
(2) "State supplemental plan" includes:
(i) a salary reduction plan qualified under § 401(k) of the Internal Revenue Code;
(ii) a tax sheltered annuity plan qualified under § 403(b) of the Internal Revenue Code;
(iii) a deferred compensation plan qualified under § 457 of the Internal Revenue Code; or
(iv) a plan qualified under § 401(a) of the Internal Revenue Code.
(f) Supplemental Board.- "Supplemental Board" means the State Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans established under § 35-201 of this article.
[1998, ch. 530, § 3; 1999, ch. 151; ch. 176, § 2; 2000, ch. 187.]