Bill > SB864

This bill allows employees of the Town of Forest Heights to optionally join the Employees' Pension System (EPS), a state-run retirement program, under specific conditions. Specifically, employees who are working for Forest Heights before the system's effective date can choose to become members by filing a written application with the Board of Trustees prior to that date. The election is one-time and irrevocable, and if not made within the specified timeframe, the employee loses the opportunity to join. For those who do elect to join, they will receive service credit equal to 50% of their employment time with the Town of Forest Heights before the effective date. Additionally, the bill stipulates that any employee or former employee who becomes a member of the EPS after the effective date will not receive service credit for their employment with Forest Heights prior to that date. The legislative body of Forest Heights must adopt a resolution and meet certain requirements, such as having at least 60% of members of an existing local plan petition to join the EPS, in order to participate in the system. The bill is set to take effect on June 1, 2025.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0864?ys=2025RS