# State Personnel and Pensions (GSP)

## Title 21. State Retirement and Pension System

### Subtitle 2. Fiduciary Responsibilities

#### Section 21-206

(a) Subject to Sec. 21-207 of this subtitle, a fiduciary who breaches any of the responsibilities, obligations, or duties imposed on a fiduciary by this subtitle:

  (1) is personally liable to the several systems for any losses to the several systems resulting from a breach;

  (2) shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and

  (3) is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.

(b) A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:

  (1) before the fiduciary became a fiduciary; or

  (2) after the fiduciary ceased to be a fiduciary.

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Md. Code Ann., State Pers. & Pens. (as displayed at mgaleg.maryland.gov, October 16, 2026)