Section 29-406 – Compound Cost-of-Living Adjustment — Three Percent Rate Cap
(a) (1) Except as provided in subsection (a)(2) of this section, this section applies: (i) on or after July 1, 1998, only to an allowance based on creditable service earned before July 1, 2011, and received by a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree of the Employees’ Pension System or […]
Section 29-407 – Effect of Elections; Exceptions
(a) This section applies only to an allowance received by a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree of the Employees’ Retirement System or the Teachers’ Retirement System who elected Selection C (Combination formula). (b) Except as provided in subsection (c) or (d) of this section, the Board of Trustees […]
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 29-401 – 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 […]
Section 29-405 – Compound Cost-of-Living Adjustment — Five Percent Rate Cap
(a) This section applies only to an allowance received by a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree: (1) of the Employees’ Retirement System or the Teachers’ Retirement System who elected Selection B (Limited cost–of–living adjustment); or (2) who transferred to the Law Enforcement Officers’ Pension System from the Employees’ Retirement […]