Section 30-210 – Duties of Employing Institutions
With respect to a participating employee who is employed by an employing institution or an institution over which the employing institution has administrative authority, the employing institution shall administer the participating employee’s enrollment, termination, or retirement under the program.
Section 30-210.1 – Indemnification of Covered Individuals Made Party to Action
(a) In this section, “covered individual” means an employee of an employing institution with discretionary authority over the management or administration of any of the supplemental retirement plans or the management or disposition of the assets of any of the supplemental retirement plans. (b) Subject to the provisions of this section, the State shall indemnify a covered […]
Section 30-211 – Duties of Designated Companies
(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 […]
Section 30-212 – Indemnification
A designated company or a company authorized to provide supplemental retirement accounts under § 30–401 of this title shall hold harmless and indemnify the State, the Board of Trustees, employing institutions, and the officers, agents, and employees of the State, the Board of Trustees, and employing institutions from any claims or demands arising from any […]
Section 30-301 – Eligible Employees
(a) An individual is eligible to participate in the program only if the individual: (1) is eligible for membership in a retirement system or a pension system; (2) has not previously participated in a State system as an employee of an employing institution or any other unit of State government; and (3) is: (i) a member of the faculty of […]
Section 30-302 – Election to Participate — in General
(a) An election to participate in the program shall be made by an eligible employee at commencement of employment. (b) An eligible employee’s election to participate in the program is a one–time irrevocable election. (c) An individual who previously participated in a State system as an employee of an employing institution or any other unit of State government […]
Section 30-303 – Election to Participate — Employees Employed on or After October 1, 1993
(a) An eligible employee shall elect to: (1) join a pension or retirement system in accordance with the provisions of this Division II applicable to that system; or (2) participate in the program. (b) An eligible employee shall: (1) make an election under this section in writing; and (2) file the election with the Board of Trustees and the employing institution […]
Section 30-304 – Election to Participate — Transfer on or Before July 1, 1981
Unless an eligible employee transferred to a pension system on or before July 1, 1981, the eligible employee may not elect to participate in the program after transferring to a pension system.
Section 30-305 – Election to Participate — Change in Employee Status
(a) This section applies only to a State employee who is appointed, promoted, transferred, or reclassified to a position in which an employee would be eligible to participate in the program. (b) A State employee described in subsection (a) of this section may not elect to participate in the program.
Section 30-306 – Application for Contract Required
An election of the program by an eligible employee is only effective when the election is accompanied by an appropriate application, if required, for the issuance of an annuity contract under the program.