Section 23-310 – Treatment of Unused Sick Leave as Creditable Service
The Board of Trustees shall treat a member’s credit for unused sick leave as creditable service on or after July 1, 1998, if at the time of retirement, the member is: (1) subject to the contributory pension benefit or the Alternate Contributory Pension Selection; and (2) entitled to service credit for unused sick leave under § 20–206 […]
Section 24-205 – Contributions by Members
(a) Except as provided in subsection (b) of this section, a member’s contribution rate is 8% of the member’s earnable compensation. (b) After 28 years of service as a member, a member does not make any further contributions.
Section 23-401 – Normal Service Retirement
(a) Except as provided in subsection (f) of this section, a member may retire with a normal service retirement allowance if: (1) the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire; and (2) on or before the date of retirement, the member: (i) has at least […]
Section 24-206 – Regular Interest
(a) Except as provided in subsection (b) of this section, regular interest is payable on member contributions at the rate of 4% a year, compounded annually, until retirement or withdrawal of the accumulated contributions. (b) No further interest shall be paid on member contributions after membership ends if the former member is not eligible to receive a […]
Section 23-402 – Early Service Retirement
(a) Except as provided in subsection (b) of this section, a member may retire with an early service retirement allowance if: (1) the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire; and (2) on or before the date of retirement, the member: (i) has at least […]
Section 24-207 – Termination of Membership
Membership ends if the member: (1) is separated from employment for more than 4 years; (2) withdraws the member’s accumulated contributions; (3) becomes a retiree; (4) dies; or (5) elects to participate in the Deferred Retirement Option Program established under § 24-401.1 of this title.
Section 23-403 – Retirement After Termination of Membership
(a) This section applies to a former member who: (1) was eligible for a retirement allowance under § 23-401 or § 23-402 of this subtitle when the former member’s membership terminated; (2) did not submit a written application under § 23-401 or § 23-402 of this subtitle before membership terminated; and (3) has not withdrawn the former member’s accumulated […]
Section 23-404 – Special Early Retirement
(a) (1) In this section the following words have the meanings indicated. (2) “Appointed official” means an individual appointed to a public office of the State who meets the legal criteria for an appointed official as determined by the Office of the Attorney General. (3) “Unclassified service of the State” means the unclassified service in the State Personnel Management […]
Section 23-405 – Additional Contributions
(a) When a member of the Employees’ Retirement System or the Teachers’ Retirement System transfers on or before December 31, 2004, to the Employees’ Pension System or the Teachers’ Pension System, the Board of Trustees shall allocate any amounts transferred from the Annuity Savings Fund as provided in subsections (b) and (c) of this section. (b) (1) This […]
Section 23-406 – Reduction of Allowance When Accumulated Contributions Are Not Repaid
(a) The Board of Trustees shall reduce a member’s allowance if the member: (1) received any accumulated contributions, other than additional contributions, in connection with a prior separation from employment; (2) is credited with prior eligibility service; and (3) does not repay, with interest to the date of retirement, the amount received. (b) A reduction under subsection (a) of this […]