May 16, 2002
The Honorable Casper R. Taylor, Jr.
Speaker of the House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 705 - Optional Retirement Program - Supplemental Annuities.
This bill permits a public institution of higher education to establish supplemental retirement plans that provide supplemental retirement accounts offered by a designated company in accordance with Section 401(a), Section 403(b) or Section 457 of the Internal Revenue Code or any other provision of federal law that authorizes supplemental retirement accounts.
Senate Bill 686, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 705.
Parris N. Glendening