Section 31-303 – Date Withdrawal Takes Effect
A withdrawal and transfer under § 31-302 of this subtitle takes effect at the end of the State’s fiscal year.
Section 31-304 – Transfer of Accumulated Contributions
If a participating governmental unit withdraws from a State system, the accumulated contributions of the withdrawn employees shall be transferred on the withdrawal date to the administrative board of the local pension system or new State system and credited to the account of those employees.
Section 31-305 – Transfer of Assets
(a) As of the effective date of withdrawal of a participating governmental unit, the Board of Trustees shall transfer to the administrative board of the local pension system or new State system the portion of the assets that are allocable to the withdrawn employees as determined under § 21–305.5, § 21–305.6, § 21–306, § 21–306.1, or […]
Section 31-306 – Payment of Administrative Costs
A participating governmental unit shall pay all administrative costs involved in the withdrawal or reentry if the participating governmental unit: (1) withdraws all or some of its employees from a State system; or (2) elects to participate in a State system for employees who were previously withdrawn.
Section 31-2A-04 – Credit for Preexisting Employment
If a law enforcement officer, firefighter, or paramedic joins the Law Enforcement Officers’ Pension System on the effective date, the member is entitled to credit for employment with the participating governmental unit before the effective date.
Section 31-2A-05 – Transition From Local to State Plan
(a) This section applies only to a local plan that is a qualified plan under § 401(a) of the Internal Revenue Code and provides a defined benefit to its participants. (b) If an eligible governmental unit approves participation in the Law Enforcement Officers’ Pension System, the operation of the local plan or State system with respect to […]
Section 31-2B-01 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Effective date” means the date that an eligible governmental unit commenced or commences participation in the Correctional Officers’ Retirement System. (c) “Eligible governmental unit” means a governmental unit that is eligible to participate in the Correctional Officers’ Retirement System under § 31-2B-02 of this subtitle. (d) “Local […]
Section 31-2B-02 – Eligible Governmental Units
Subject to § 31-2B-03 of this subtitle, the governmental units that are eligible to participate in the Correctional Officers’ Retirement System are: (1) counties; and (2) municipal corporations.
Section 31-2B-03 – Approval of Participation; Request to Permit Participation
(a) Subject to subsection (b) of this section, the legislative body of an eligible governmental unit may approve participation by its local detention center officers in the Correctional Officers’ Retirement System if: (1) the legislative body adopts a resolution in the form prescribed by the Board of Trustees; and (2) the eligible governmental unit participates in a State […]
Section 31-2B-03.1 – Effective Date for Participation
(a) Except as provided in subsection (b) of this section, the effective date of participation for an eligible governmental unit is July 1 of the year following the fiscal year in which the eligible governmental unit elects to participate in the Correctional Officers’ Retirement System. (b) If an eligible governmental unit does not provide the Board of […]