(a) There is a salary reduction savings plan for eligible participants as allowed by § 401(k) of the Internal Revenue Code.
(b) The Board shall obtain approval from the Internal Revenue Service for the salary reduction savings plan.
Md. Code Ann., State Pers. & Pens. § 35-501
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.