# Maryland HB 1028: Board of Trustees for the State Retirement and Pension System - Investment Division - Compensation and Staffing Maryland HB 1028, Board of Trustees for the State Retirement and Pension System - Investment Division - Compensation and Staffing, is a 2025 Regular Session House bill sponsored by Catherine M. Forbes (Democratic); status signed, last action 2025-05-20 (Approved by the Governor - Chapter 773); PRIA reads it as touching household money (as of 2026-10-17). - Canonical: https://policyrisk.com/state-bill/MD-HB1028-2025RS - As of: 2026-10-17 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Maryland HB 1028 - State: Maryland - Session: 2025 Regular Session - Title: Board of Trustees for the State Retirement and Pension System - Investment Division - Compensation and Staffing - Status: signed - Chamber: House - Introduced: 2025-02-03 - Last action: 2025-05-20, Approved by the Governor - Chapter 773 - Sponsor: Catherine M. Forbes (Democratic) - Cosponsors: 0 - Subjects: State Government - Pensions and Retirement, Administrative Agencies, Committees and Commissions, Investments -see also- Securities, Public Officials -see also- Atty Gen; Compt; Coun Admin; etc, Reports, Retirement -see also- Mandatory Retirement, Salaries and Compensation -see also- Overtime; Reimb. Rates, Standards and Best Practices, State Employees, Work, Labor, and Employment -see also- JobTrn; Leave; etc. - Touches household money: yes - Roll calls: 3 (323 yes, 0 no in all) - Economic provisions PRIA read: 3 ## Summary No summary available. ## Bill overview: provisions PRIA read - Pay limits for pension investment staff: cost, medium. Beginning July 1, 2025, Maryland's pension board approves Investment Division jobs, qualifications, and staff pay based on committee recommendations. Staff pay increases cannot exceed 10% per fiscal year and require meeting or beating investment benchmarks. Pay criteria must compare similar jobs at… - Performance bonuses with pension staff limits: mixed, medium. Beginning July 1, 2025, the pension board can award performance bonuses to eligible Investment Division staff and the chief investment officer. Bonuses require meeting or beating investment benchmarks, including those for asset classes an employee directs. Employees without authority to make invest… - New oversight for pension staff pay: mixed, low. Beginning July 1, 2025, a Compensation and Staffing Committee replaces Maryland's pension board's Objective Criteria Committee. It recommends job qualifications, pay and bonus criteria, and staffing needs; the board retains final authority. The board chair appoints members but cannot chair the comm… ## Sponsors and cosponsors - Sponsor: Catherine M. Forbes (Democratic), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-04-07 | House | Third Reading Passed | pass | 138 | 0 | 2 | | 2025-03-28 | Senate | Third Reading Passed | pass | 46 | 0 | 1 | | 2025-03-14 | House | Third Reading Passed | pass | 139 | 0 | | ## Actions (14) - 2025-05-20: Approved by the Governor - Chapter 773 - 2025-04-07: Passed Enrolled (House) - 2025-04-07: Third Reading Passed (138-0) (House) - 2025-04-07: House Concurs Senate Amendments (House) - 2025-03-28: Third Reading Passed (46-0) (Senate) - 2025-03-27: Second Reading Passed with Amendments (Senate) - 2025-03-27: Favorable with Amendments {543229/1 Adopted (Senate) - 2025-03-27: Favorable with Amendments Report by Budget and Taxation (Senate) - 2025-03-17: Referred Budget and Taxation (Senate) - 2025-03-14: Third Reading Passed (139-0) (House) - 2025-03-14: Favorable Adopted Second Reading Passed (House) - 2025-03-14: Favorable Report by Appropriations (House) - 2025-02-21: Hearing 3/11 at 1:00 p.m. (House) - 2025-02-03: First Reading Appropriations (House) ## Bill text - Enacted, 2025-05-20: [PDF](https://mgaleg.maryland.gov/2025RS/Chapters_noln/CH_773_hb1028e.pdf) - Enrolled, 2025-04-07: [PDF](https://mgaleg.maryland.gov/2025RS/bills/hb/hb1028e.pdf) - Third Reading, 2025-03-14: [PDF](https://mgaleg.maryland.gov/2025RS/bills/hb/hb1028t.pdf) - First Reading, 2025-02-03: [PDF](https://mgaleg.maryland.gov/2025RS/bills/hb/hb1028f.pdf) ## Related bills - HB 0384: Maryland Disability Service Animal Program - Established (vetoed) - SB 0227: Workers' Compensation - Payment From Uninsured Employers' Fund - Revisions (vetoed) - HB 0482: Occupational Licensing and Certification - Criminal History - Predetermination Review Process (vetoed) - SB 0157: Maryland Disability Service Animal Program - Established (vetoed) - HB 1294: Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization (became law) - HB 0228: Maryland Veterans Trust – Assistance to Members of the Maryland National Guard (signed) ## Sources - [Enacted (PDF)](https://mgaleg.maryland.gov/2025RS/Chapters_noln/CH_773_hb1028e.pdf) - [Enrolled (PDF)](https://mgaleg.maryland.gov/2025RS/bills/hb/hb1028e.pdf) - [Third Reading (PDF)](https://mgaleg.maryland.gov/2025RS/bills/hb/hb1028t.pdf) - [First Reading (PDF)](https://mgaleg.maryland.gov/2025RS/bills/hb/hb1028f.pdf) ## Related - [HB 0384: Maryland Disability Service Animal Program - Established](https://policyrisk.com/state-bill/MD-HB0384-2025RS) - [SB 0227: Workers' Compensation - Payment From Uninsured Employers' Fund - Revisions](https://policyrisk.com/state-bill/MD-SB0227-2025RS) - [HB 0482: Occupational Licensing and Certification - Criminal History - Predetermination…](https://policyrisk.com/state-bill/MD-HB0482-2025RS) - [SB 0157: Maryland Disability Service Animal Program - Established](https://policyrisk.com/state-bill/MD-SB0157-2025RS) - [HB 1294: Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization](https://policyrisk.com/state-bill/MD-HB1294-2025RS) - [HB 0228: Maryland Veterans Trust – Assistance to Members of the Maryland National Guard](https://policyrisk.com/state-bill/MD-HB0228-2025RS) - [Maryland bills](https://policyrisk.com/states/maryland/bills) - [Maryland state hub](https://policyrisk.com/states/maryland) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/MD-HB1028-2025RS (as of 2026-10-17).