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Background
Petitioner Anna Mae Emmons (petitioner) was an employee of
the Maryland State Department of Health and Mental Hygiene until
her retirement, effective March 1, 1991. As an employee of such
department, petitioner was a member of the Maryland State
Employees' Retirement System (the Retirement System) until she
transferred to the Maryland State Employees' Pension System (the
Pension System) on February 1, 1991.
The Retirement System and the Pension System
In determination letters dated April 19, 1965, and June 23,
1982, respondent determined that the Retirement System and the
Pension System, respectively, were qualified trusts under section
401(a), and that they were exempt from income tax under the
provisions of section 501(a).
The Retirement System requires mandatory nondeductible
employee contributions. In contrast, the Pension System does not
generally require such contributions. The State of Maryland
contributes to both the Retirement System and the Pension System
on behalf of the members of those systems.
All assets of the Retirement System are held in one of three
funds; namely, the Annuity Savings Fund, the Accumulation Fund,
and the Expense Fund. Md. Ann. Code, art. 73B, sec. 14 (1988 and
Supp. 1990). Retirement benefits are paid from the Annuity
Savings Fund and the Accumulation Fund. Md. Ann. Code, art. 73B,
sec. 14(1)(f) and (2)(a) (1988). Expenses, other than Retirement
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Last modified: May 25, 2011