Section 39-104 – Termination of a System
(a) If a special retirement or pension system is terminated, the governing body of the county shall provide, by ordinance, for a distribution of the assets of the system in an equitable and nondiscriminatory manner to the system’s members, former members, retirees, and beneficiaries to the extent they would be eligible to receive a benefit under […]
Section 40-101 – Local Pension Systems
(a) In this section, “local jurisdiction” means any county or municipal corporation in the State. (b) (1) Subject to any other provision of State or federal law, a local jurisdiction that establishes a public pension system on or after July 1, 2005, is required to adhere to the principles incorporated in the Uniform Management of Public Employee Retirement […]
Section 37-203.1 – Transfer of Service Credit
(a) (1) An individual may transfer service credit from a contributory system to the State Alternate Contributory Employees’ Pension System, the State Alternate Contributory Teachers’ Pension System, the State Contributory Employees’ Pension System, the State Contributory Law Enforcement Officers’ Pension System, the State Contributory Teachers’ Pension System, the State Reformed Contributory Employees’ Pension System, or the State […]
Section 37-203.2 – Transfer of Service Credit — Waiver of One-Year Requirement
(a) This subsection applies to an individual who: (1) has accrued service credit in a State or local retirement or pension system; (2) has accepted new employment in a position requiring membership in one of the several systems; and (3) did not make a claim under § 37–203 or § 37–203.1 of this subtitle to transfer the previous service […]
Section 37-204 – Transfer to Police Department or Fire Department System
(a) If a member of a State or local retirement or pension system transfers on or after July 1, 1990, to a State or local retirement or pension system for a police department or fire department, the plans, rules, regulations, guidelines, and policies of the new system govern to determine: (1) the years of service necessary to […]
Section 37-205 – Involuntary Transfers of Employment
(a) If a member of a State or local retirement or pension system transfers to another State or local retirement or pension system because of an involuntary transfer of the member’s unit to another employer, all the employer contributions on behalf of the member and interest on those contributions shall be transferred to the new system. […]
Section 35-501 – Salary Reduction Savings Plan Generally
(a) There is a salary reduction savings plan for eligible participants as allowed by § 401(k) of the Internal Revenue Code. (b) The Board shall obtain approval from the Internal Revenue Service for the salary reduction savings plan.
Section 35-502 – Participants in Plan
An individual is eligible to participate in the salary reduction savings plan if the individual is: (1) an officer of this State; or (2) an employee of this State, including a contractual employee.
Section 35-601 – Deferred Compensation Plan Generally
There is a deferred compensation plan for eligible participants as allowed by § 457 of the Internal Revenue Code.
Section 35-602 – Participants in Plan
An individual is eligible to participate in the deferred compensation plan if the individual is: (1) an officer of this State; (2) an employee of this State, including a contractual employee; (3) an employee of the Northeast Maryland Waste Disposal Authority; (4) an independent contractor who performs service under § 21–304(c) of the Education Article; or (5) an employee of […]