Section 23-303.1 – Eligibility Service — Employees’ or Teachers’ Pension Systems
(a) This section applies to a member of the Employees’ Pension System or Teachers’ Pension System who has prior service in a part of the Employees’ Pension System or Teachers’ Pension System that is subject to a different rate of benefit accrual. (b) A member who is subject to the contributory pension benefit, Alternate Contributory Pension Selection, […]
Section 23-308.2 – Purchase of Service Credit by Members of Teachers’ Retirement System or Teachers’ Pension System
(a) For periods of employment as a member of the Teachers’ Retirement System or the Teachers’ Pension System for which the member is not otherwise entitled to service credit, a member of the Teachers’ Pension System may purchase credit for eligibility service as provided in this section. (b) The total amount of service credit in the Teachers’ […]
Section 23-212 – Contributions by Members
(a) Except as otherwise provided in this section, a member’s contribution rate is 5% of the part of the member’s earnable compensation that exceeds the taxable wage base for each year. (b) The contribution rate of a member who is subject to the contributory pension benefit under Part II of this subtitle is 2% of the member’s […]
Section 23-213 – Contributions by Members — Regular Interest
(a) Except as provided in subsection (b) of this section, regular interest is payable on member contributions at the rate of 5% per year compounded annually until retirement or withdrawal of contributions and interest. (b) Except as provided in subsection (c) of this section, no further interest shall be paid on member contributions after membership ends if […]
Section 23-214 – Employment by Private Contractors
(a) This section applies to an individual who is: (1) a member of the Teachers’ Pension System; (2) an employee of the Baltimore City Board of School Commissioners or another county board of education; and (3) hired by a third party contractor to work in a school that is reconstituted by order of the Maryland State Board of Education. […]
Section 23-215 – Termination of Membership
(a) Except as provided in § 23–215.1 of this subtitle, membership ends if the member: (1) is separated from employment for more than 4 years; (2) is separated from employment, and rehired into a position that requires enrollment in a part of the Employees’ Pension System or the Teachers’ Pension System that is subject to a different rate […]
Section 23-215.1 – Member Subject to Alternate Contributory Pension Selection Prior to June 30, 2011 — Effect of Rehiring on or Before June 30, 2016
(a) This section applies to a member who: (1) on or before June 30, 2011, is subject to the Alternate Contributory Pension Selection; (2) (i) is separated from employment for 4 years or less; (ii) 1. is separated from employment for military service that meets the requirements of the federal Uniformed Services Employment and Reemployment Rights Act; and 2. resumes employment within […]
Section 23-215.2 – Transfer of Members Between Systems — Employees’ Pension or Teachers’ Pension
If an individual was a member of any one of the several systems on June 30, 2011, and without incurring a break in employment of more than 30 days, becomes a member of the Employees’ Pension System or the Teachers’ Pension System on or after July 1, 2011, the individual: (1) shall be considered to be […]
Section 23-217 – Applicability
(a) Except as provided in subsection (b) of this section, this Part II of this subtitle applies to an individual who is: (1) a member of the Employees’ Pension System or the Teachers’ Pension System; or (2) a member of the Employees’ Retirement System or the Teachers’ Retirement System subject to Selection C (Combination Formula) as provided in […]
Section 23-218 – Allowances for Creditable Service
A member who is subject to this Part II of this subtitle shall: (1) receive an allowance for all creditable service as follows: (i) for normal service retirement as provided in § 23–401(c) of this title; (ii) for early service retirement as provided in § 23–402 of this title; (iii) for ordinary disability retirement as provided in § 29–108 […]