|
2570
LAWS OF MARYLAND
Ch. 742
Section 11(16) and 86(10)
Annotated Code of Maryland
(1978 Replacement Volume and 1979 Supplement)
BY repealing and reenacting, with amendments,
Article 88B - state Police
Section 53(15)
Annotated Code of Maryland
(1979 Replacement Volume and 1979 Supplement)
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be repealed, amended, or enacted to read as follows: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
11.
(16) [Anything in this article to the contrary
notwithstanding any] ANY member whose service is terminated
other than by death or retirement after he OR SHE has
rendered [five] 5 or more years of creditable service may
elect to receive a vested retirement allowance [in lieu of
the return of his accumulated contributions]. SUCH A MEMBER
SHALL BE DEEMED TO HAVE ELECTED A VESTED RETIREMENT
ALLOWANCE, UNLESS HE OR SHE REQUESTS THE RETURN OF THE
ACCUMULATED CONTRIBUTIONS WITHIN 2 YEARS OF SUCH
TERMINATION. The vested retirement allowance shall be a
deferred allowance commencing at age sixty and shall be
computed as a service retirement allowance as provided under
paragraph (a) of § 11 (3) of this article on the basis of
the member's creditable service and average final
compensation at the time his service is terminated.
Should the member who has elected a vested retirement
allowance request the return of his contributions or die
prior to the date when the first payment of his retirement
allowance becomes normally due, the amount of his
accumulated contributions shall be returned and no further
benefit shall be due or become payable on account of his
previous membership.
86.
(10) [Anything in this article to the contrary
notwithstanding, any] ANY member whose service is terminated
other than by death or retirement after he OR SHE has
rendered [five] 5 or more years of creditable service may
elect to receive a vested retirement allowance [in lieu of
the return of his accumulated contributions]. SUCH A MEMBER
SHALL BE DEEMED TO HAVE ELECTED A VESTED RETIREMENT
ALLOWANCE, UNLESS HE OR SHE REQUESTS THE RETURN OF THE
ACCUMULATED CONTRIBUTIONS WITHIN 5 YEARS OF SUCH
TERMINATION. The vested retirement allowance shall be
|
