2558                               Municipal Charters

Section 14-300

For the purposes of this subtitle, the following words and phrases
shall have the meanings respectively ascribed to them by this section:

(1)    Administrative retirement date. The date as of which a partici-
pant becomes entitled to receive a pension as determined in accordance
with section 14-302 (c).

(2)    Automatic retirement date. The date as of which he shall be
retired in accordance with section 14-302 (d).

(3)    Credited interest. Interest on a participant's contributions for
the number of full months from the January first following the date such
contribution was made to the date to which it is being computed. The
initial rate of interest is three per cent per annum compounded on each
January first. Any change in the rate of credited interest will apply to
interest allowed for months occurring after the effective date of the change.
The rate of credited interest shall be determined by the personnel officer.

(4) Current employee. An employee in the employ of the county
on July 1, 1966.

(5)    Elective early retirement date. The date as of which a partic-
ipant becomes entitled to receive a pension as determined in accordance
with section 14-302 (b).

(6)    Employee. Any paid employee of the county whose regular
employment is for not less than five hundred hours per year and for not
less than four months per year. For the purpose of this pension plan the
term "employee" shall include only employees classified as follows:

Firefighter I
Firefighter II
Firefighter III
Fire lieutenant
Fire captain
Fire division chief
Fire deputy chief
Fire administrator
Police services officer I
Police services officer II
Police officer I
Police officer II
Police officer III
Police corporal
Police sergeant
Police lieutenant
Police captain
Police deputy chief
Chief of police

(7)    Final earnings. The highest average rate of earnings on any
five consecutive anniversary dates of the participant's date of retirement,
date of disability or date of death during the last ten years before such
date; provided, however, that with respect to a participant who is retired
in accordance with section 14-302 (d) prior to July 1, 1970, the term
"final earnings" means the average rate of earnings on the anniversary
dates of the participant's date of retirement which occur during the period
from July 1, 1966 to July 1, 1970.