Maryland Code, LABOR AND EMPLOYMENT 12-501
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Terms Used In Maryland Code, LABOR AND EMPLOYMENT 12-501
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
(a) An employer may not be held liable for:
(1) an employee’s decision to participate in or opt out of the Program;
(2) the investment decisions of employees whose assets are deposited in the Program;
(3) the administration, investment, or investment performance of the Trust or the Program; or
(4) the Program design or the benefits paid to Program participants.
(b) An employer is not a fiduciary, and may not be considered to be a fiduciary, of the Trust or the Program.