Bill > HB825

This bill modifies the membership of the Maryland Small Business Retirement Savings Board by adding the Comptroller, or the Comptroller's designee, as a new member. Currently, the Board consists of the State Treasurer, the Secretary of Labor, and nine members with expertise in retirement programs, investments, financial systems, and small business (three appointed by the Governor, three by the President of the Senate, and three by the Speaker of the House of Delegates). The bill expands the Board's composition to include the Comptroller, bringing additional financial oversight and expertise to the group. The new membership structure will take effect on October 1, 2025, and is intended to enhance the Board's ability to manage and support small business retirement savings programs in Maryland by incorporating the perspective and knowledge of the state's top financial official.

Budget and Finance, Business and Industry

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0825?ys=2025RS