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PARRIS N. GLENDENING, Governor
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Ch. 688
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(ii) 5 years, if a member of the Teachers' Retirement System;
(2) withdraws the member's accumulated contributions;
(3) transfers to the Employees' Pension System or Teachers' Pension
System;
(4) becomes a retiree; or
(5) dies.
23-214.
(A) THIS SECTION APPLIES TO AN INDIVIDUAL WHO IS:
(1) A MEMBER OF THE TEACHERS' PENSION SYSTEM;
(2) AN EMPLOYEE OF THE NEW BALTIMORE CITY BOARD OF SCHOOL
COMMISSIONERS OR ANOTHER COUNTY BOARD OF EDUCATION; AND
(3) HIRED BY A THIRD PARTY CONTRACTOR TO WORK IN A SCHOOL THAT
IS RECONSTITUTED BY ORDER OF THE MARYLAND STATE BOARD OF EDUCATION.
(B) AN INDIVIDUAL WHO IS HIRED BY A THIRD PARTY CONTRACTOR MAY
WITHDRAW THE MEMBER'S ACCUMULATED CONTRIBUTIONS, WITHIN THE MEANING
OF § 20-101(B) OF ARTICLE, AT ANY TIME WHILE THE INDIVIDUAL IS EMPLOYED BY
THE THIRD PARTY CONTRACTOR TO WORK IN A SCHOOL THAT IS RECONSTITUTED BY
ORDER OF THE MARYLAND STATE BOARD OF EDUCATION.
(C) AN INDIVIDUAL WHO IS HIRED BY A THIRD PARTY CONTRACTOR AND
SUBSEQUENTLY BECOMES EMPLOYED BY THE NEW BALTIMORE CITY BOARD OF
SCHOOL COMMISSIONERS OR ANOTHER COUNTY BOARD OF EDUCATION AT ANY
TIME WHILE THE ORDER OF RECONSTITUTION IS IN EFFECT AND ON TERMINATION
OF THE CONTRACT WITH THE THIRD PARTY CONTRACTOR:
(1) IS NOT SUBJECT TO THE PROVISIONS OF § 23-215 OF THIS SUBTITLE;
(2) SHALL BE REINSTATED AS A MEMBER OF THE TEACHERS' PENSION
SYSTEM;
(3) SHALL BE ENTITLED TO RESTORATION OF ANY SERVICE CREDIT TO
WHICH THE INDIVIDUAL WAS ENTITLED BEFORE EMPLOYMENT BY THE THIRD
PARTY CONTRACTOR WHETHER OR NOT THE INDIVIDUAL WAS VESTED; AND
(4) SHALL REDEPOSIT ANY OF THE AMOUNTS WITHDRAWN UNDER
SUBSECTION (B) OF THIS SECTION WITH REGULAR INTEREST TO THE DATE OF
REDEPOSIT OR, ON RETIREMENT, THE INDIVIDUAL'S RETIREMENT ALLOWANCE
SHALL BE REDUCED BY THE ACTUARIAL EQUIVALENT OF THE ACCUMULATED
CONTRIBUTIONS WITHDRAWN WITH REGULAR INTEREST TO THE DATE OF
RETIREMENT.
(D) EXCEPT AS PROVIDED IN SUBSECTION (E) OF THIS SECTION, AT ANY TIME
BEFORE RETIREMENT, AN INDIVIDUAL MAY PURCHASE SERVICE CREDIT FOR A
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- 3523 -
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