# State Personnel and Pensions (GSP)

## Title 31. Participating Governmental Units

### Subtitle 3. Withdrawal by a Participating Governmental Unit

#### Section 31-305

(a) As of the effective date of withdrawal of a participating governmental unit, the Board of Trustees shall transfer to the administrative board of the local pension system or new State system the portion of the assets that are allocable to the withdrawn employees as determined under Sec. 21-305.5, Sec. 21-305.6, Sec. 21-306, Sec. 21-306.1, or Sec. 21-306.2 of this article.

(b) The administrative board of the local pension system or new State system shall hold the transferred assets in trust to provide retirement benefits for the withdrawn employees.

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