HB 1034 Maryland House of Delegates · 2025 Regular Session

State Retirement and Pension System – Alterations and Clarifications

HB 1034 adjusts reporting deadlines for Maryland's State Retirement and Pension System and clarifies eligibility for the Deferred Retirement Option Program (DROP) for State Police members. It changes the Investment Committee's annual report deadline from September 1 to November 1 each year and moves the Board of Trustees' report deadline from December 1 to December 31. For DROP eligibility, it specifies that State Police members hired before July 1, 2011, must have 22-31 years of eligible service (under age 60), while those hired after must have 25-31 years. These changes directly affect State Police Retirement System members and the agencies managing retirement administration.

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

Mar 2025

House of Delegates Passage

Apr 2025

Senate Passage

Apr 2025

Signed into Law

May 2025

Introduced Feb 3, 2025 Signed May 20, 2025

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First - State Retirement and Pension System – Alterations and Clarifications → Third - State Retirement and Pension System – Alterations and Clarifications · 5 edits

MODERATE

This bill amends the State Police Retirement System's Deferred Retirement Option Program (DROP) by changing the eligibility service requirements for members joining after July 1, 2011. The primary substantive change is increasing the minimum service requirement from 25 years to 25 years and less than 32 years of employment, while maintaining the age limit of under 60 years old. The bill also updates reporting requirements for minority business enterprise investments and clarifies the DROP participation period limits.

Scope change

The bill applies to the State Police Retirement System DROP program, specifically affecting eligibility criteria for members who became eligible on or after July 1, 2011.

ELIGIBILITY

Modified DROP eligibility requirements for State Police Retirement System members joining after July 1, 2011, maintaining the 25-year minimum service requirement but clarifying the upper limit of 32 years of employment.

REQUIREMENT

Added favorable committee report and adoption status indicating the bill was approved by the House Appropriations Committee and adopted on March 4, 2025.

Added reporting requirements for minority business enterprise brokerage and investment management services firms used by the Investment Committee.

TECHNICAL

Changed the effective date section formatting while maintaining the July 1, 2025 effective date.

DEFINITION

Updated DROP member definition to clarify eligibility criteria for State Police Retirement System members.

Floor votes · House of Delegates Mar 5, 2025

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 20, 2025

Signed into law

Approved by the Governor - Chapter 767

executive

Apr 2, 2025

Lower · Passed

Returned Passed

lower

Apr 2, 2025

Upper · Passed

Third Reading Passed

upper

Mar 27, 2025

Upper · Passed

Favorable Adopted Second Reading Passed

upper

Mar 27, 2025

Upper · Passed

Favorable Report by Budget and Taxation

upper

Mar 17, 2025

Committee

Referred Budget and Taxation

upper

Mar 14, 2025

Lower · Passed

Third Reading Passed

lower

Mar 14, 2025

Lower · Passed

Favorable Adopted Second Reading Passed

lower

Mar 14, 2025

Lower · Passed

Favorable Report by Appropriations

lower

Mar 5, 2025

House Of Delegates · Passed

House of Delegates Vote: pass (136-0-3)

house of delegates

Feb 3, 2025

Committee

First Reading Appropriations

lower

1 primary · 0 co-sponsors