1784

LAWS OF MARYLAND

Ch. 394

date of such refund, he shall receive service credit for and
in the amount of benefits in the system to which he has
transferred for all service to his credit as a member of the
system from which he is transferring.]

32.

(A) (1) IF A MEMBER TRANSFERS FROM A RETIREMENT OR
PENSION SYSTEM WHERE ACCUMULATED CONTRIBUTIONS ARE DEDUCTED
ON ALL EARNABLE COMPENSATION TO A RETIREMENT OR PENSION
SYSTEM WHERE ACCUMULATED CONTRIBUTIONS ARE DEDUCTED ON ALL
EARNABLE COMPENSATION, THE MEMBER SHALL RECEIVE SERVICE
CREDIT IN THE SYSTEM INTO WHICH THE MEMBER TRANSFERS FOR AND
IN THE AMOUNT OF BENEFITS ACCUMULATED IN THE SYSTEM FROM
WHICH THE MEMBER TRANSFERS. THE TRANSFER OF CREDIT SHALL
OCCUR UPON THE DEPOSIT, WITHIN 1 YEAR OF THE MEMBER'S
TRANSFER, OF THE TOTAL ACCUMULATED CONTRIBUTIONS TO THE
MEMBER'S CREDIT IN THE ANNUITY OR OTHER CORRESPONDING FUND
OF THE SYSTEM FROM WHICH THE MEMBER TRANSFERRED TO THE FUND
OF THE SYSTEM INTO WHICH THE MEMBER TRANSFERRED.

(2) WHEN AN EMPLOYEE WHO IS A MEMBER OF A
RETIREMENT OR PENSION SYSTEM OPERATED ON AN ACTUARIAL BASIS
UNDER THE LAWS OF THIS STATE OR THE LAWS OF ANY POLITICAL
SUBDIVISION OF THIS STATE TRANSFERS TO ANOTHER SUCH
RETIREMENT OR PENSION SYSTEM, ALL THE EMPLOYER'S
CONTRIBUTIONS WITH INTEREST ON BEHALF OF THE EMPLOYEE MEMBER
SHALL BE TRANSFERRED. THE AMOUNT TO BE TRANSFERRED SHALL BE
DETERMINED BY ACTUARIAL VALUATION, THE COST OF WHICH SHALL
BE BORNE EQUALLY BY BOTH SYSTEMS.

(B) (1) IF A MEMBER TRANSFERS FROM A RETIREMENT OR
PENSION SYSTEM WHERE ACCUMULATED CONTRIBUTIONS ARE DEDUCTED
ON ALL EARNABLE COMPENSATION TO A RETIREMENT OR PENSION
SYSTEM WHERE ACCUMULATED CONTRIBUTIONS ARE NOT DEDUCTED ON
ALL EARNABLE COMPENSATION, THE MEMBER SHALL RECEIVE SERVICE
CREDIT FOR AND IN THE AMOUNT OF BENEFITS IN THE SYSTEM TO
WHICH THE MEMBER TRANSFERS. ANY CLAIM FOR THE SERVICE
CREDIT SHALL BE MADE WITHIN 1 YEAR OF THE DATE OF ENTRANCE
INTO THE SYSTEM TO WHICH THE MEMBER TRANSFERS.
NOTWITHSTANDING ANY OTHER PROVISION OF THIS ARTICLE OR THE
LAWS OF ANY POLITICAL SUBDIVISION OF THIS STATE, UPON
VERIFICATION OF THE SERVICE CREDIT, THE SYSTEM FROM WHICH
THE TRANSFER IS MADE MAY NOT PROVIDE ANY BENEFIT FOR THE
SERVICE CREDIT TRANSFERRED. THE MEMBER'S ACCUMULATED
CONTRIBUTIONS SHALL BE REFUNDED UPON REQUEST.

(2) WHEN AN EMPLOYEE WHO IS A MEMBER OF A
RETIREMENT OR PENSION SYSTEM OPERATED ON AN ACTUARIAL BASIS
UNDER THE LAWS OF THIS STATE OR THE LAWS OF ANY POLITICAL
SUBDIVISION OF THIS STATE TRANSFERS TO ANOTHER SUCH
RETIREMENT OR PENSION SYSTEM, ALL THE EMPLOYER'S
CONTRIBUTIONS WITH INTEREST ON BEHALF OF THE EMPLOYEE MEMBER
SHALL BE TRANSFERRED. THE AMOUNT TO BE TRANSFERRED SHALL BE
DETERMINED BY ACTUARIAL VALUATION, THE COST OF WHICH SHALL
BE BORNE EQUALLY BY BOTH SYSTEMS.