(a) Regulations for administration. The County Executive must issue regulations under method (2) to administer the retirement savings plan.
(b) Responsibility for administration. The Chief Administrative Officer must administer the retirement savings plan. Except for the powers of the Board, the Chief Administrative Officer must take all actions and make all decisions to administer the retirement savings plan, including, but not limited, to:
(1) interpret the provisions of the retirement savings plan;
(2) decide the eligibility of any employee and the rights of any participant or beneficiary to receive benefits;
(3) compute the amount of benefits payable to any participant or beneficiary;
(4) authorize disbursements of benefits;
(6) consult with the Board regarding the selection of a record keeper for the retirement savings plan;
(7) incur expenses as necessary to administer the retirement savings plan, subject to appropriation;
(8) disclose the reports prepared under this Section;
(9) prepare and file reports that are required by law; and
(10) delegate any power or duty under this Section.
The Chief Administrative Officer's determination on any matter within the Chief Administrative Officer's authority under this plan is final and binding on all interested parties.
(c) Payment of expenses and contributions. The County Government must make contributions to the retirement savings plan, subject to appropriation. The County Government may make additional contributions to the trust to cover operating expenses of the retirement savings plan. The Board must pay operating expenses of the savings plan from savings plan assets or from County Government assets, at the direction of the Chief Administrative Officer. A participating agency must pay any amounts necessary to cover the agency's respective contributions and operating expenses of the retirement savings plan.
(d) Procurement. Chapter 11B does not apply to procurement of goods and services for the retirement savings plan by the Chief Administrative Officer.
(e) Records. The Chief Administrative Officer must prescribe the form, scope, maintenance, and disclosure of records for the retirement savings plan under State law.
(f) Interpretations. The Chief Administrative Officer must decide questions arising under this Division. Any participant, former participant, or designated beneficiary eligible to receive benefits from the retirement savings plan may request, in writing, a decision on questions arising under this Division. The Chief Administrative Officer must respond in writing to the request within 60 days. The response must include a statement of appeal rights. A decision by the Chief Administrative Officer may be appealed within 15 days to the Merit System Protection Board. The decision of the Merit System Protection Board is final.
(g) Independent audit. The retirement savings plan must be included in the annual audit performed by a certified public accountant under contract to the County Council as required by Section 315 of the Charter.
(h) Annual reports. By March 1 of each year, the Chief Administrative Officer must submit to the County Council and County Executive an annual report on the status of the retirement savings plan for the preceding plan year, including the extent and content of counseling made available to participants. The Chief Administrative Officer must make the report available to all County officials, each participant of the retirement savings plan, and the public. The County Council may ask the Chief Administrative Officer or the Board to provide additional information in the annual report or in additional reports. The Chief Administrative Officer and the Board must provide the additional information promptly.
(i) Participant statements. The Chief Administrative Officer must supply to each participant for each plan year a report stating the amount of the participant's account balances and the participant's vested interest. The report must be distributed as soon as administratively feasible after the close of each plan year. The Chief Administrative Officer is not required to provide more than one report during any plan year.
(j) Investment information. The Board must supply the Chief Administrative Officer with sufficient participant investment information so that the Chief Administrative Officer may prepare the required participant statements. (1994 L.M.C., ch. 13, § 2.)
