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Session Laws, 1971
Volume 707, Page 2634   View pdf image
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2634                                         Reports

The total pension computed under this Paragraph (f) of this Item 2
shall in no event exceed sixty percent (60%) of the participating member's
highest annual salary as a member of the General Assembly.

(g) Notwithstanding the provisions of Paragraph (f) of this Item
2, any participating member who was a member of the General Assembly
prior to January 1, 1971, but who elects to participate in this pension plan
and makes contributions thereto under Paragraph (d) of this Item 2, may,
by written notice to the System prior to January 1, 1975, elect to receive
in lieu of the normal pension to which he would be entitled under said
Paragraph (f) of this Item 2, a pension computed at the rates and otherwise
in accordance with and commencing at the times provided in the prior
pension plan and with respect to his service, both before and after January
1, 1971, but based only upon his highest annual earnable compensation
as a member of the General Assembly prior to January 1, 1971.

(h) Any participating member with at least eight (8) years of
service who has attained the age of fifty (50) years may by written notice
to the System elect in lieu of the normal pension to which he would be
entitled under Paragraph (e) of this Item 2 or in lieu of the portion of the
normal pension to which he would be entitled under Paragraph (f) (2)
of this Item 2, an early pension commencing at such time prior to age
sixty (60) as he shall designate in his election. The early pension shall be
the actuarial equivalent of the normal pension or portion thereof to which
the participating member would otherwise be entitled commencing at age
sixty (60).

(i) Upon the death of any participating member who has completed
at least eight (8) years of service (or paid contributions for such under
Paragraph (j) of this Item 2) and who is survived by a spouse from whom
he is not living separate and apart as determined by the System, said
spouse, upon attaining the age of sixty (60) years or as of such member's
death if she is then at least sixty (60) years of age, shall be entitled to an
annual spouse's pension equal to one-half () of the annual pension to
which the participating member was or would have been entitled, payable
for the life of the spouse in equal monthly installments. Any spouse of a
participating member entitled to a spouse's pension under the provisions of
this Paragraph (i) of Item 2 who has not reached sixty (60) years of age
but has attained the age of fifty (50) years at the time of the participating
member's death or thereafter attains the age of fifty (50) years, may by
written notice to the System elect to receive an actuarially equivalent
early spouse's pension commencing at such time as she shall designate in
her election.

(j) A participating member whose service is terminated at less than
eight (8) years may elect (i) to leave his accumulated contributions with
the System and (ii) to contribute for the succeeding year or years to
aggregate eight (8) years both the participating member's contribution
and the State contribution (as calculated by the System) and shall thereby
become entitled to receive either the normal pension commencing at the
age of sixty (60) years or the actuarially equivalent early pension.

(k) The annual pension shall be payable to a participating member
for life, in equal monthly installments, except that no pension shall be
payable to him during any period for which said participating member
receives compensation as either an employee or an elected or appointed
official of the State of Maryland.

(1) The annual pension payable to a participating member under
this plan shall be in lieu of any and all pension benefits which may be

 

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Session Laws, 1971
Volume 707, Page 2634   View pdf image
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