§ 6-1 Establishment.
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 22A, § 6-1 (2026)
§ 6-1 Establishment.LinkCopy Citation
(a)In general.
(1)
A separate account on behalf of each member will be established and maintained under the Retirement Savings Plan.
(2)
The establishment and maintenance of an account is for bookkeeping purposes only and does not require or permit assets held in any account to be segregated for investment purposes.
(b)Sub-accounts.
(1)
A member’s account consists of the following sub-accounts:
(i)
if applicable, a member’s Mandatory Employee Contribution Sub-Account;
(ii)
an Employer Contribution Sub-Account; and
(iii)
if applicable, a Rollover Contribution Sub-Account.
(2)
To each of these sub-accounts:
(i)
contributions are credited under § 5-2 {“Mandatory contributions by non-hybrid members”}, § 5-3 {“Employer contributions”}, or <cite data-path="|22A|§5-4">§ 5-4 {“Rollover contributions”} of this article</cite>, respectively;
(ii)
gains and losses are allocated under <cite data-path="|22A|§6-2|(d)">§ 6-2(d) {“Investments: Fund gains and losses”} of this subtitle</cite>; and
(iii)
fees and expenses are charged under<cite data-path="|22A|§6-2|(e)">§ 6-2(e) {“Investments: Fund fees and expenses”} of this subtitle</cite>.
History: Ord. 14-216