City of Baltimore - File #: 20-0603

• File #: 20-0603
• Version: 0
• Name: Retirement Savings Plan - Clarifications
• Type: Ordinance
• Status: Enacted
• File created: 9/21/2020
• In control: City Council
• Final action: 12/2/2020
• Enactment #: 20-458
• Title: Retirement Savings Plan - Clarifications For the purpose of clarifying the definition of “earnable compensation” for the members of the Retirement Savings Plan; clarifying that any employee of the Enoch Pratt Free Library System, who is not eligible to participate in the Maryland State Retirement and Pension System, is considered able to be a member of the Retirement Savings Plan; clarifying that any employee of the Baltimore Museum of Art or the Walters Art Gallery is not considered to be an employee for purposes of the Retirement Savings Plan; eliminating the time period limit for when an employer contribution made by mistake may be returned to the participating employer after payment of the mistaken contribution; modifying the composition of the Board of Trustees of the Retirement Savings Plan; modifying the qualifications needed by certain Trustees appointed to the Board; clarifying the term of office for appointed Trustees; clarifying that the Board is responsible for any other as...
• Sponsors: City Council President (Administration)
• Indexes: Clarification, Retirement Savings Plan

Date	Ver.	Action By	Action	Result
12/7/2020	0	Mayor	Signed by Mayor
11/16/2020	0	City Council	Approved and Sent to the Mayor
11/2/2020	0	City Council	3rd Reader, for final passage
11/2/2020	0	Taxation, Finance and Economic Development Committee	Recommended Favorably with Amendment
10/29/2020	0	Taxation, Finance and Economic Development Committee	Recommended Favorably with Amendment	Pass
10/19/2020	0	Taxation, Finance and Economic Development Committee	Scheduled for a Public Hearing
9/24/2020	0	The City Council	Refer to Retirement Savings Plan Board of Trustees
9/24/2020	0	The City Council	Refer to Dept. of Finance
9/24/2020	0	The City Council	Refer to Labor Commissioner
9/24/2020	0	The City Council	Refer to Dept. of Human Resources
9/24/2020	0	The City Council	Refer to City Solicitor
9/24/2020	0	The City Council	Refer to Employees' Retirement System
9/21/2020	0	City Council	Introduced
9/21/2020	0	City Council	Assigned

Explanation: Capitals indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.

* Warning: This is an unofficial, introductory copy of the bill.
The official copy considered by the City Council is the first reader copy.
Introductory*

City of Baltimore
Council Bill

Introduced by: The Council President
At the request of: The Administration (Employees’ Retirement Systems)

A Bill Entitled

An Ordinance concerning
title
Retirement Savings Plan - Clarifications
For the purpose of clarifying the definition of “earnable compensation” for the members of the Retirement Savings Plan; clarifying that any employee of the Enoch Pratt Free Library System, who is not eligible to participate in the Maryland State Retirement and Pension System, is considered able to be a member of the Retirement Savings Plan; clarifying that any employee of the Baltimore Museum of Art or the Walters Art Gallery is not considered to be an employee for purposes of the Retirement Savings Plan; eliminating the time period limit for when an employer contribution made by mistake may be returned to the participating employer after payment of the mistaken contribution; modifying the composition of the Board of Trustees of the Retirement Savings Plan; modifying the qualifications needed by certain Trustees appointed to the Board; clarifying the term of office for appointed Trustees; clarifying that the Board is responsible for any other assets assigned to the Board by the City; clarifying certain provisions and language regarding the selection of Board Officers and their compensation; clarifying that administrative expenses of the Retirement Savings Plan and in the management of Plan assets may only be paid out of certain forfeitures or the unallocated Plan As...