State Retirement and Pension System - Administrative Fees - Repeal

Added clarification that payments certified by the Board of Trustees must be paid by local employers in a specific fiscal year, providing clearer timing for employer obligations.

Changed 'generally accepted method' to 'generally accepted ACTUARIAL method' in Section 21-125(3) for more precise actuarial valuation language.

Removed the requirement to repeal Section 21-316 of the Annotated Code of Maryland, simplifying the bill's repeal provisions.

Added new section headers and committee report information indicating favorable amendments and Senate adoption, reflecting the bill's legislative progress.

Adjusted language around administrative fee funding to clarify that employer contributions must include amounts necessary for administrative and operational expenses of the Board of Trustees and State Retirement Agency.