Section 21-601 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Direct rollover” means a payment by the State Retirement Agency directly to the eligible retirement plan specified by the participant, the surviving spouse of a participant, or the designated beneficiary of the participant. (c) “Eligible retirement plan” means: (1) an individual retirement account described in § 408(a) […]
Section 21-602 – Election of Eligible Rollover Distribution
(a) A participant may elect on the form the Board of Trustees requires to have all or any part of an eligible rollover distribution paid to an eligible retirement plan in a direct rollover. (b) (1) If an eligible rollover distribution is payable to the designated spouse beneficiary of a member, former member, or retiree, the designated spouse […]
Section 21-603 – Regulations
The Board of Trustees shall adopt regulations that are necessary to carry out this subtitle and that are consistent with the requirements of § 401(a)(31) and any other applicable sections of the Internal Revenue Code and the regulations under those sections.
Section 21-604 – Written Notice
Within a reasonable time before making an eligible rollover distribution, the Board of Trustees shall provide written notices as required under § 402(f) of the Internal Revenue Code.
Section 21-701 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Domestic relations order” means an order issued in accordance with § 21–502(a)(2) of this title, § 414(p) of the Internal Revenue Code, and regulations adopted by the Board of Trustees that assigns a benefit to a spouse, former spouse, child, or other dependent of a […]
Section 21-702 – Applicability of Subtitle
(a) This subtitle applies to an individual who: (1) is a member, former member, or retiree of the Employees’ Retirement System or the Employees’ Pension System; and (2) has earned creditable service while employed as: (i) the Attorney General of the State; (ii) the Comptroller of the State; (iii) the Governor of the State; (iv) the Lieutenant Governor of the State; (v) the […]
Section 21-703 – When Benefits Subject to Forfeiture
(a) Benefits under this Division II of this article payable to a public employee are subject to forfeiture in whole or in part in accordance with this subtitle if the public employee is found guilty of, pleads guilty to, or enters a plea of nolo contendere to a qualifying crime. (b) (1) Benefits under this Division II may […]
Section 21-704 – Forfeiture of Benefits
(a) If the final adjudication of charges results in conviction of a public employee, the public employee’s retirement allowance shall be forfeited in whole or in part in accordance with this section. (b) (1) On conviction of a public employee, the Attorney General or State’s Attorney shall file a complaint in circuit court to forfeit the public employee’s […]
Section 21-705 – Retirement of Employee Before Order Issued
(a) If a public employee has retired before a forfeiture order is issued under § 21–704 of this subtitle, the Board of Trustees may recover from the public employee the amount of benefits paid to the public employee before the order. (b) The recovery under subsection (a) of this section is limited to an amount equal to […]
Section 21-706 – Application for Retirement
(a) This section applies to a public employee who is not a retiree. (b) Subject to subsection (c) of this section, a public employee may submit an application for retirement. (c) If a public employee is eligible to apply for a retirement allowance, a public employee’s application for retirement benefits: (1) shall be considered submitted on the first day […]