State Retirement and Pension System - Board of Trustees - Responsibilities and Duties

This Maryland bill updates the responsibilities of the Board of Trustees for the State Retirement and Pension System by clarifying training requirements and modernizing how members receive benefit information. Trustees must complete eight hours of annual education covering investments, fiduciary conduct, and board governance, with specific topics approved by the board's chairman. The legislation also allows the board to provide personalized benefit statements to members and retirees through a secure online portal instead of traditional mail, ensuring access to details like vested benefits and annuity values. These changes aim to improve transparency and accessibility while maintaining the board's duty to report on the financial health of the pension systems.