WILLIAM DONALD SCHAEFER, Governor                    Ch. 580

(A)  A MEMBER IS ELIGIBLE TO RETIRE IF ON OR BEFORE THE
EFFECTIVE DATE OF RETIREMENT THE MEMBER:

(1)  HAS SUBMITTED A WRITTEN APPLICATION TO THE BOARD
OF TRUSTEES STATING THE MONTH IN WHICH THE MEMBER DESIRES TO
RETIRE; AND

(2)  (I) HAS COMPLETED AT LEAST 25 YEARS OF CREDITABLE
SERVICE; OR

(II) 1. IS AT LEAST 62 YEARS OLD; OR

2. HAS TRANSFERRED TO THIS PENSION SYSTEM
FROM THE EMPLOYEES' RETIREMENT SYSTEM OF THE STATE OF MARYLAND
AND IS AT LEAST 60 YEARS OLD.

(B)  THE EFFECTIVE DATE OF RETIREMENT MAY BE NO EARLIER THAN
THE 1ST DAY OF THE MONTH FOLLOWING TERMINATION OF EMPLOYMENT.

(C)  (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, ON RETIREMENT A MEMBER SHALL RECEIVE:

(I)  A SERVICE RETIREMENT ALLOWANCE THAT SHALL
BE COMPUTED AS A 1 PERCENT OF THE PART OF THE MEMBER'S AVERAGE
FINAL COMPENSATION THAT IS NOT IN EXCESS OF THE SOCIAL SECURITY
INTEGRATION LEVEL, PLUS 1.5 PERCENT OF THE PART OF THAT
COMPENSATION THAT IS IN EXCESS OF THE SOCIAL SECURITY INTEGRATION
LEVEL, MULTIPLIED BY THE NUMBER OF YEARS OF THE MEMBER'S
CREDITABLE SERVICE; OR

(II)  IF THE MEMBER IS EMPLOYED BY A
MUNICIPALITY THAT DOES NOT CONTRIBUTE TO SOCIAL SECURITY, A
SERVICE RETIREMENT ALLOWANCE THAT SHALL BE COMPUTED AS 1.5
PERCENT OF THE MEMBER'S AVERAGE FINAL COMPENSATION, MULTIPLIED BY
THE NUMBER OF YEARS OF THE MEMBER'S CREDITABLE SERVICE.

(2) ON RETIREMENT A MEMBER WHO HAS TRANSFERRED TO
THIS PENSION SYSTEM FROM THE EMPLOYEES' RETIREMENT SYSTEM SHALL
RECEIVE A SERVICE RETIREMENT ALLOWANCE THAT SHALL BE COMPUTED AS
ONE-FIFTIETH OF THE MEMBER'S AVERAGE FINAL COMPENSATION FOR EACH
OF THE FIRST 30 YEARS OF CREDITABLE SERVICE, PLUS ONE-HUNDREDTH
OF AVERAGE FINAL COMPENSATION FOR EACH YEAR OF CREDITABLE SERVICE
GREATER THAN 30 YEARS.

(D)  (1) (I) ON THE APPLICATION OF A MEMBER OR OF THE
MEMBER'S DEPARTMENT HEAD, ANY MEMBER WHO HAS HAD 5 OR MORE YEARS
OF ELIGIBILITY SERVICE MAY BE RETIRED BY THE BOARD OF TRUSTEES ON
AN ORDINARY DISABILITY RETIREMENT ALLOWANCE, IF THE MEDICAL
BOARD, AFTER A MEDICAL EXAMINATION OF THE MEMBER, CERTIFIES THAT:

1. THE MEMBER IS MENTALLY OR PHYSICALLY
INCAPACITATED FOR THE FURTHER PERFORMANCE OF DUTY;

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