Section 32-101 – Definitions
(a) In this title the following words have the meanings indicated. (b) (1) “Eligible employee” means a member of the Employees’ Pension System or the Employees’ Retirement System who is subject to Selection C (Combination Formula) as provided in § 22-221 of this article, other than: (i) an employee of a participating governmental unit or a former participating governmental […]
Section 32-201 – Establishment
There is an Optional Defined Contribution System.
Section 32-202 – Administration of System
The Supplemental Board shall administer the Optional Defined Contribution System.
Section 32-203 – Duties of Supplemental Board
(a) Except for the State supplemental plans that are authorized by employing institutions as defined in § 30-101 of this article, the Supplemental Board shall adopt, implement, and maintain the specific qualified plans that are part of the Optional Defined Contribution System. (b) (1) Except as provided in paragraph (2) of this subsection, the Supplemental Board shall adopt […]
Section 32-204 – Employee Contributions
The participating employee contributions shall be made as payrolls are paid by payroll deduction or by a reduction in salary in accordance with the Internal Revenue Code and as provided by the applicable State supplemental plan.
Section 32-205 – Payment of Contributions
(a) For each participating employee who makes contributions under § 32–204 of this subtitle, to the extent funds are provided in the State budget, the State may contribute to the applicable State supplemental plan employer contributions an amount equal to the lesser of the participating employee’s contributions or $600 per fiscal year. (b) (1) This subsection applies to […]
Section 31-2B-04 – Credit for Preexisting Employment
If a local detention center officer joins the Correctional Officers’ Retirement System on the effective date, the member is entitled to credit for employment with the participating governmental unit before the effective date.
Section 31-2B-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 Correctional Officers’ Retirement System, the operation of the local plan or State system with respect to the […]
Section 31-115 – Interim or Supplemental Allowances
(a) A participating governmental unit may establish, by law, a separate additional program of interim or supplemental allowances for a class of employees. (b) A participating governmental unit shall fund any additional program of allowances separately from the funding for benefits provided under this Division II. (c) (1) On the written request of a participating governmental unit that desires […]
Section 31-2B-06 – Local Detention Center Officer of Queen Anne’s County
(a) This section applies to an individual who is a local detention center officer of Queen Anne’s County before the effective date, and who remains a local detention center officer of Queen Anne’s County through the effective date. (b) Notwithstanding any other provision of law, if Queen Anne’s County becomes a participating governmental unit in the Correctional […]