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Session Laws, 1972
Volume 708, Page 2615   View pdf image
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Baltimore County                             2615

tirement, plus the pension which is the actuarial equivalent at the
time of retirement of the pension] payable at his normal service re-
tirement age based on his creditable service and average final compen-
sation at date of retirement [computed] in accordance with the ap-
plicable paragraph above.[, or, if] If he so elects, the [payment of
his retirement] allowance may become payable to him commencing
prior to
[be deferred to commence upon the attainment of] his nor-
mal service retirement age[, in which event the annuity shall be the
actuarial equivalent of his accumulated contributions at that age and
the pension shall be equal to the pension payable at his normal service
retirement age based on his creditable service and average final com-
pensation at the date of retirement] and shall in that case be com-
puted as the service retirement allowance payable at normal retire-
ment age reduced by five-twelfths of one per cent for each month by
which his retirement date precedes his normal retirement age.

Section 20-21. Allowance on ordinary disability retirement.

(b) A pension which, together with his annuity, shall provide a
total allowance equal to one-sixtieth of his average final compensation
in the case of a Group 1, Group 2 or Group 3 member who was a mem-
ber on December 31, 1960, and did not elect to make the increased
contributions in accordance with Section 20-55 of this Code, one-
fifty-fifth
[one-sixtieth] of his average final compensation in the
case of a Group 1, Group 2 or Group 3 member who either was a mem-
ber on December 31, 1960, and elected to make such increased con-
tributions or became a member on or after January 1, 1961, one-
fortieth of his average final compensation in the case of a Group 1,
Group 2 or Group 3 member who, at retirement, is an appointed de-
partment head and retires on or after July 1, 1971,
and to one-fifty-
fifth of his average final compensation in the case of a Group
4 member, multiplied by the number of years of his creditable service.
The minimum retirement allowance shall be equal to one-quarter of
his average final compensation, increased by one-fifty-fifth [one-six-
tieth] of his average final compensation for each year of creditable
service in excess of five years to a maximum of one-third of his aver-
age final compensation; provided, however, that no such allowance
shall exceed one-sixtieth [one-sixty-fifth] of his average final com-
pensation in the case of a Group 1, Group 2 or Group 3 member who
was a member on December 31, 1960, and did not elect to make such
increased contributions, one-fifty-fifth [one-sixtieth] of his average
final compensation in the case of a Group 1, Group 2 or Group 3 mem-
ber who either was a member on December 31, 1960, and elected to
make such increased contributions or became a member on or after
January 1,1961, one-fortieth of his average final compensation in the
case of a Group 1, Group 2 or Group 3 member who, at retirement, is
an appointed department head and retires on or after July 1, 1971,
and one-fifty-fifth of his average final compensation in the case of a
Group 4 member, multiplied by the number of years which would be
creditable to him were his service to continue until the attainment of
his normal service retirement age.

 

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Session Laws, 1972
Volume 708, Page 2615   View pdf image
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