A Safe and Adequate Retirement System for the City of Baltimore FOR the purpose of establishing a new tax-qualified defined contribution plan (the "Supplemental Savings Plan of the City of Baltimore") for the benefit of certain employees initially employed or reemployed by the City of Baltimore on or after a certain date; providing for the administration of the Plan; requiring Plan members and the City to make certain contributions to the Plan each payroll period; permitting Plan members to select from among various investment options; imposing certain vesting rules for City contributions; providing that a member's account balance will be distributed upon certain events; establishing for certain employees a limit on pensionable pay under the Employees' Retirement Plan of the City of Baltimore and requiring certain contributions by those employees; defining certain terms; correcting, clarifying, and conforming related provisions; providing for a special effective date; and generally relating to the Supplemental Savings Plan of the City of Baltimore.

Committee

City Council

Introduced

October 7, 2013

Passed

July 17, 2014