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Section 35-501 - Salary Reduction Savings Plan Generally — Maryland Law | CourtGPT
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  8. Section 35-501 - Salary Reduction Savings Plan Generally
Maryland Legal Code

Section 35-501 - Salary Reduction Savings Plan Generally

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(a) There is a salary reduction savings plan for eligible participants as allowed by § 401(k) of the Internal Revenue Code. (b) The Board shall obtain approval from the Internal Revenue Service for the salary reduction savings plan.