For Immediate Release: Thursday, May 8, 2014
The Montgomery County Council will hold a public hearing at 1:30 p.m. on Tuesday, June 10, on Expedited Bill 23-14 would amend the County retirement laws to delete outdated references to the Internal Revenue Code and clarify administrative practices in areas where the current law does not provide guidance.
Specifically, the bill would provide that sick leave is used for vesting purposes in the Employees' Retirement Plan and provide that months of service are included for vesting purposes in the Guaranteed Retirement Income Plan and the Retirement Savings Plan. The bill also would permit the County’s Chief Administrative Officer to authorize a designee to receive a beneficiary form; clarify that a participant continues to participate in the same retirement plan after changing employment from the County directly to a participating agency or from a participating agency directly to the County; and clarify that a part-time employee hired before 1994 who has not participated in either the Retirement Savings Plan or the Guaranteed Retirement Income Plan may elect to participate in either plan. The bill also would clarify that a DRSP/DROP account balance must not be distributed until the final decision on a disability application.
The public hearing will be held in the Third Floor Hearing Room of the Council Office Building, which is located at 100 Maryland Avenue in Rockville. The meeting will be televised live by County Cable Montgomery (CCM—Cable Channel 6 on Comcast and RCN, Channel 30 on Verizon) and can be viewed via streaming through the County web site at www.montgomerycountymd.gov/council
Those interested in testifying at the public hearing can sing up by calling 240-777-7803. Call 240-777-7910 to obtain copies of the bill or go to:
http://www.montgomerycountymd.gov/council/leg/bill/index.html
# # # #