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Bill

SB 65

State Retirement and Pension System - Transfers of Service

2025 Regular Session Introduced by Mary Beth Carozza

SB 65 modifies Maryland state employee service credit transfer rules between retirement systems, affecting pension benefits and state fund liabilities.

Hearing 1/30 at 9:00 a.m.
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Bill Summary · SB 65

Legislative bill overview

SB 65 addresses the transfer of service credits between Maryland's various state retirement and pension systems. The bill appears to modify rules governing how employees can move accrued service time when transferring between different state retirement plans (such as moving between the State Employees' Retirement System, Teachers' Retirement System, or other state pension programs). This affects both employee benefits and pension fund accounting.

Why is this important

State employees who change jobs within government may accumulate retirement credits across multiple systems, and clarifying transfer rules impacts their final pension benefits and retirement security. The policy also affects the long-term financial liability of Maryland's pension funds, which have significant unfunded obligations. Clear transfer rules reduce confusion and potential disputes between employees and retirement administrators.

Potential points of contention

  • Fiscal impact on pension funds: Allowing service transfers may shift costs between retirement systems or increase overall liabilities if not properly actuarially adjusted
  • Employee equity concerns: Rules could favor certain employee groups or create inconsistencies between who can transfer service and under what conditions
  • System complexity: Multiple retirement systems with different benefit formulas and contribution rates may create administrative challenges and unequal treatment among state workers

Compiled from official sources — confirm details with the bill’s official record.

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