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 30-101 – Definitions
(a) In this title the following words have the meanings indicated. (b) (1) “Annuity contract” means a fixed or variable annuity contract or combination of fixed or variable annuity contracts authorized under § 403(a) or (b) of the Internal Revenue Code. (2) “Annuity contract” includes a custodial account to be invested in regulated investment company stock as provided in […]
Section 30-201 – Establishment of Program
(a) There is an optional retirement program in which eligible employees may participate. (b) Under the program, annuity contracts offered by a designated company that provide retirement and death benefits may be purchased for participating employees. (c) (1) The Board of Trustees shall administer the program to the extent provided in this title. (2) The State Retirement Agency shall carry […]
Section 30-202 – Powers and Duties of Board of Trustees
(a) The Board of Trustees may designate not more than five companies from which annuity contracts are to be purchased under the program. (b) The Board of Trustees shall approve the form and contents of annuity contracts to be offered by a company that is designated by the Board of Trustees under subsection (a) of this section. […]
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 30-203 – Written Plan Document; Regulations
The Board of Trustees shall adopt and maintain a written plan document for the program and may adopt regulations that it deems necessary to carry out this title.
Section 29-117 – Reemployment of Disability Retiree
(a) A disability retiree who is rehired by a participating employer may not receive creditable service or eligibility service during the period of reemployment. (b) The disability retiree’s compensation during the period of reemployment may not be subject to the employer pickup provisions of § 21-303 of this article or any reduction or deduction as a member […]
Section 29-118 – Effect of Workers’ Compensation Benefits
(a) (1) Except as otherwise provided in this subsection, this section applies to a retiree and any designated beneficiary. (2) (i) This section does not apply to: 1. a retiree of a participating governmental unit, or a designated beneficiary of that retiree; or 2. a retiree of the Employees’ Pension System or the Employees’ Retirement System who receives a disability retirement […]
Section 29-201 – Scope of Subtitle
This subtitle does not apply to the Judges’ Retirement System.
Section 29-202 – Death Benefit — Generally
(a) (1) (i) Subject to subparagraph (ii) of this paragraph, when the Board of Trustees receives proof of death of an individual who died while employed as a member, the Board of Trustees shall pay to the designated beneficiary or, if there is no designated beneficiary, to the member’s estate the amounts specified in this subsection. (ii) If a […]