Section 21-309.1 – Employer Contributions — Payment by Local Employers
(a) (1) In this section the following words have the meanings indicated. (2) “Local employee” has the meaning stated in § 21–304 of this subtitle. (3) “Local employer” has the meaning stated in § 21–304 of this subtitle. (b) On or before December 1 of each year, the Board of Trustees shall determine and certify the amounts payable by each […]
Section 21-503 – Retirement Counseling
The Board of Trustees shall offer counseling about retirement benefits: (1) to the members, former members, and retirees of each State system; and (2) if a member, former member, or retiree consents, to an immediate family member.
Section 21-310 – Employer Contributions — Payment by Maryland Environmental Service
(a) Each year, the Board of Trustees shall certify to the Maryland Environmental Service the State’s normal contribution rate and the State’s accrued liability contribution rate and the amounts payable under § 21–307(f) of this subtitle. (b) (1) The Maryland Environmental Service shall pay to the Board of Trustees the amount of the charges certified to the Maryland […]
Section 21-311 – Annuity Savings Funds
(a) The Board of Trustees shall credit to each member’s individual account in the annuity savings fund of the appropriate State system: (1) the member contributions of the member as provided in this Division II; and (2) regular interest on the accumulated contributions of the member as provided in this Division II. (b) From the annuity savings fund of […]
Section 21-312 – Member Contributions — in General
(a) To determine the earnable compensation of a member in a payroll period, the Board of Trustees may deem that the rate of annual compensation payable to the member on the first day of the payroll period continues throughout the payroll period. (b) The Board of Trustees may omit member contributions for a period less than a […]
Section 21-313 – Member Contributions — Employer Pickup of Member Contributions
(a) In this section, “approved employer” means a participating employer who adopts a resolution and follows procedures as prescribed by the Board of Trustees for an employer pickup program in accordance with § 414(h)(2) of the Internal Revenue Code. (b) The State or other approved employer of a member shall pick up, within the meaning of § […]
Section 21-314 – Member Contributions — Duties of Participating Employers
(a) Each participating employer shall submit to the Board of Trustees a statement that shows the name, date of birth, occupational title, duties, compensation, length of service, and other information that the Board of Trustees requires regarding employees or former employees of the participating employer. (b) Each year the Board of Trustees shall certify the member contribution […]
Section 21-315 – Expense Funds
(a) The Board of Trustees shall credit to the expense fund of each State system its pro rata share of: (1) the amount provided in the annual State budget to pay the administrative and operational expenses of the Board of Trustees and the State Retirement Agency; (2) the amounts authorized by the Board of Trustees under this section […]
Section 21-316 – State and Local Employer Pro Rata Payments for Administrative and Operational Expenses of Board of Trustees and State Retirement Agency
(a) (1) In this section the following words have the meanings indicated. (2) “Library” means a library that is established or operates under the Education Article. (3) “Local employer” means a participating employer other than the State. (b) (1) Subject to paragraph (3) of this subsection, for each fiscal year, the State and each local employer shall pay to the Board […]
Section 21-401 – Election
(a) (1) Subject to paragraph (2) of this subsection, instead of the basic allowance provided under the State system of a member, the member may elect a reduced allowance to be paid as one of the options under § 21–403 of this subtitle. (2) Paragraph (1) of this subsection applies to a member of: (i) the Law Enforcement Officers’ […]