Maryland Senate Bill SB695

Maryland 2023 Regular Session

• Introduced: 2/6/23
• Refer: 2/6/23
• Report Pass: 3/20/23
• Engrossed: 3/20/23
• Refer: 3/21/23
• Report Pass: 4/8/23
• Enrolled: 4/10/23
• Chaptered: 4/24/23
• Passed: 4/24/23

Caption

State Retirement and Pension System - Military Service Credit

Impact

The legislation is poised to significantly impact state laws concerning retirement and pension systems by amending current laws to incorporate service credit for military academy attendance. This change will benefit individuals who have served in military academies by allowing them to claim up to 16 months of service credit for each full year attended, which translates to enhanced pension benefits when they retire. By extending these benefits, the bill promotes state employment opportunities for former military personnel, aligning state policies with federal standards regarding the recognition of military service.

Summary

Senate Bill 695 establishes provisions for members of the State Retirement and Pension System in Maryland to receive service credit for their attendance at a United States service academy. The bill modifies existing regulations to allow service in the National Guard or military reserves to be counted towards retirement benefits, thereby enhancing the recognition of military service among state employees. The bill seeks to ensure that veterans are given fair credit for their military service while encouraging their reemployment in state positions after active duty.

Sentiment

The sentiment surrounding SB695 has been predominantly positive among legislators and advocacy groups representing veterans and service members. Supporters argue that the bill is a step forward in honoring the sacrifices made by service members and enhancing their benefits. However, some concerns have been raised regarding the fiscal implications of extending pension benefits and whether these changes will strain state resources. Overall, the sentiment appears to favor support for veterans while also advocating for fiscal responsibility.

Contention

While the bill enjoys broad support, some contention arises over the potential budgetary impacts. Critics argue that allowing additional service credit could lead to increased costs for the state retirement system. This concern may prompt discussions about the sustainability of pension funds in light of increased liabilities due to expanded military service credits. The debate involves balancing the moral obligation to support veterans with the financial realities of the state pension system.