WILLIAM DONALD SCHAEFER, Governor

Ch. 6

(B)     COMPUTATION OF RETIREMENT OR PENSION SYSTEM BENEFITS.

THE BOARD OF TRUSTEES MAY ONLY COMPUTE RETIREMENT SYSTEM OR
PENSION SYSTEM BENEFITS ON THE BASIS OF YEARS OF CREDITABLE SERVICE AS A
MEMBER OF THAT STATE SYSTEM.

(C)     WITHDRAWAL OF CONTRIBUTIONS.

(1)      A PARTICIPATING EMPLOYEE MAY WITHDRAW ANY ACCUMULATED
CONTRIBUTIONS IN THE ANNUITY SAVINGS FUND ON OR AFTER THE EFFECTIVE
DATE OF THE PARTICIPATING EMPLOYEE'S ELECTION TO JOIN THE PROGRAM.

(2)      IF A PARTICIPATING EMPLOYEE WITHDRAWS THE ACCUMULATED
CONTRIBUTIONS, THE PARTICIPATING EMPLOYEE FORFEITS ANY RIGHT TO A
BENEFIT IN THE STATE SYSTEM FROM WHICH THE ACCUMULATED CONTRIBUTIONS
WERE WITHDRAWN.

(D)     INELIGIBILITY FOR PARTICIPATION IN RETIREMENT OR PENSION

SYSTEM..

A PARTICIPATING EMPLOYEE IS INELIGIBLE FOR MEMBERSHIP IN A
RETIREMENT SYSTEM OR PENSION SYSTEM WHILE THE PARTICIPATING EMPLOYEE
IS EMPLOYED IN ANY ELIGIBLE POSITION BY ANY EMPLOYING INSTITUTION.

(E)     INELIGIBILITY FOR PARTICIPATION IN SUPPLEMENTAL RETIREMENT
PLANS OR THE PROGRAM.

ON OR AFTER OCTOBER 1, 1993:

(1)      A PARTICIPATING EMPLOYEE IS INELIGIBLE FOR THE TAX
DEFERRED ANNUITY PLAN ESTABLISHED BY THE BOARD OF TRUSTEES OF THE
MARYLAND TEACHERS AND STATE EMPLOYEES SUPPLEMENTAL RETIREMENT
PLANS UNDER TITLE 35, SUBTITLE 4 OF THIS ARTICLE; AND

(2)      A MEMBER OF A RETIREMENT SYSTEM OR PENSION SYSTEM WHO IS
ELIGIBLE FOR COVERAGE UNDER TITLE 35, SUBTITLE 4 OF THIS ARTICLE MAY NOT
CONTRIBUTE TOWARD THE PURCHASE OF AN ANNUITY CONTRACT UNDER THE
PROGRAM.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 11-107(a) and (b) and Ch. 428, § 2, Acts of
1993.

In subsection (a) of this section, the reference to "separat[ion] from
employment" is substituted for the former reference to "discontinu[ing]
service" to conform to other provisions in this Division II. Similarly, the
reference in subsection (b) to the "Board of Trustees" is added.

In subsection (b) of this section, the reference to "creditable service" is
substituted for the former reference to "service ... creditable as a ... member"
because the defined term "creditable service" is used in this Division II to
refer to service credit used to compute a benefit.

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