Section 29-408 – Compound Cost-of-Living Adjustment — Two and One-Half/one Percent Rate Cap
(a) This section applies only to an allowance based on creditable service earned on or after July 1, 2011, for a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree of: (1) the Correctional Officers’ Retirement System; (2) the Employees’ Pension System; (3) the Law Enforcement Officers’ Pension System; (4) the State Police Retirement System; […]
Section 29-409 – Suspension and Resumption of Payments
(a) This section applies only to a retiree of the Employees’ Retirement System or Employees’ Pension System who: (1) retired from the Employees’ Retirement System or Employees’ Pension System on or before June 30, 2009; (2) before retirement was an employee of the Maryland School for the Deaf; and (3) before retirement, as an employee of the Maryland School […]
Section 29-501 – Return of Accumulated Contributions
The Board of Trustees shall pay a member or former member the amount of the member’s or former member’s accumulated contributions if: (1) the member or former member separated from employment for a reason other than death or retirement; and (2) the member or former member requests the payment.
Section 29-303.1 – Vested Allowances for Members of Pension Systems — Lump-Sum Payment
(a) This section applies only to an individual who: (1) is a former member of: (i) the Employees’ Pension System; or (ii) the Teachers’ Pension System; (2) is eligible to receive a vested allowance under § 29-303 of this subtitle; and (3) has not elected to receive a benefit under § 29-303 of this subtitle. (b) Notwithstanding § 29-303 of this subtitle, […]
Section 29-304 – Immediate Vesting for Heads of Units of State Government
(a) An individual who is a secretary of a principal department or a head of a department, office, or other unit of the State government serving at the Governor’s pleasure has immediate vesting rights on taking office in the State system in which the individual is a member. (b) An individual who commences employment as the Executive […]
Section 29-305 – Immediate Vesting for Constitutional Officers
(a) In this section, “constitutional officer” means: (1) the Attorney General of the State; (2) the Comptroller of the State; (3) the Lieutenant Governor of the State; (4) the Secretary of State; or (5) the Treasurer of the State. (b) (1) A constitutional officer who is a member of the Employees’ Pension System: (i) on taking office, has immediate vesting rights in the Employees’ […]
Section 29-401 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) (1) “Accumulated cost–of–living adjustment amount” means the sum of all prior cost–of–living adjustments made to an allowance. (2) “Accumulated cost–of–living adjustment amount” does not include the cost–of–living adjustment made as of July 1 of the current fiscal year. (c) (1) “Allowance” has the meaning stated in § 20–101 of […]
Section 29-402 – Annual Retirement Allowance Adjustment
(a) (1) This subtitle applies only to an allowance paid to a former member, a retiree, or the surviving beneficiary of a deceased member, former member, or retiree of: (i) the Correctional Officers’ Retirement System; (ii) the Employees’ Pension System; (iii) the Employees’ Retirement System; (iv) the Law Enforcement Officers’ Pension System; (v) the Local Fire and Police System; (vi) the State Police […]
Section 29-403 – Compound Cost-of-Living Adjustment — No Rate Cap
(a) This section applies only to: (1) an allowance of a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree: (i) of the Employees’ Retirement System or the Teachers’ Retirement System who elected Selection A (Additional member contributions); (ii) who transferred to the Local Fire and Police System from the Employees’ Retirement System; or […]
Section 29-404 – Simple Cost-of-Living Adjustment — Three Percent Rate Cap
(a) (1) Except as provided in paragraph (2) of this subsection, this section applies only to an allowance based on creditable service earned before July 1, 2011, for a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree of: (i) the Employees’ Pension System, if the deceased member, former member, or retiree was […]