1246 LAWS OF MARYLAND Ch. 357
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:
Article 73B - Pensions
113.
The membership of the pension system shall consist of
the following individuals:
(3) (a) [Membership shall be optional for an elected
or appointed official, an employee of the Governor's office,
or a desk officer or employee of either house of the General
Assembly who receives an annual salary as his compensation
for his employment. An official who is elected or appointed
on or after January 1, 1980, may become a member of this
system by applying at any time after his election or
appointment and before his term expires. The official is
entitled to credit for previous service rendered by him to
the State, or a participating municipal corporation,
including service rendered before the establishment of this
system. On receiving a claim for this service credit from
the official, the board of trustees shall verify his
previous employment and the creditable service to which the
member is entitled, compute the amount due from the
political subdivision for which credit is claimed, and
submit a statement to the participating municipal
corporation for the amount. The computation shall be based
on the compensation actually received by the official from
the municipal corporation during the period for which
service is to be credited. The participating municipal
corporation immediately shall pay the amount to this pension
system or place it in the next budget for prompt payment
when that budget becomes effective.
(b) An official who receives membership service credit
for service rendered to the State or to a participating
municipal corporation under this subsection shall pay to
this pension system by single payment, within the period of
time determined by the board of trustees, the contributions,
with interest, that he would have paid had he been a member
of this pension system but withdrew. However, the member
may waive the payment of any of these contributions, in
which case when he retires any service retirement allowance,
any ordinary disability retirement allowance, or any
allowance due to nonreappointment or nonreelection to any
office that is payable to the official, shall be reduced by
the actuarial equivalent of those contributions that he had
not paid, with interest to date of his retirement.
(c) Any member of this pension system who had served
previously as an elected or appointed official of the State
or a participating municipality, is entitled to receive
credit for the period of this creditable service on making
in a single payment, within the period of time as determined
|
|