# State Personnel and Pensions (GSP)

## Title 21. State Retirement and Pension System

### Subtitle 3. Funding

#### Section 21-301

(a) In each State system, there is:

  (1) an accumulation fund;

  (2) an annuity savings fund; and

  (3) an expense fund.

(b) The Board of Trustees shall credit the assets of each State system to the appropriate fund of the State system according to the purpose for which the assets are held.

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