3182

LAWS OF MARYLAND

Ch. 507

reduced amount which shall be [of equivalent actuarial value
to the deferred allowance that begins at age 62] IN
ACCORDANCE WITH THE PROVISIONS OF SUBSECTION (4) OF THIS
SECTION.

If a [member] PERSON who is eligible for a vested
retirement allowance requests the return of his
contributions, the amount of his accumulated contributions
shall be returned and, when he becomes 62 years old or any
earlier date as provided in this subsection, he shall
receive a benefit equal to the State provided part of his
vested retirement allowance.

[If the member dies before the date when the first
payment of his vested retirement allowance normally becomes
due, the amount of his accumulated contributions shall be
payable to his personal representative or to the person the
member has nominated by written designation, executed and
filed with the board of trustees.]

UPON RECEIPT OF PROPER PROOFS PROOF OF THE DEATH OF THE
PERSON WHO IS ELIGIBLE FOR A DEFERRED RETIREMENT ALLOWANCE
AND DIES PRIOR TO HIS OR HER EFFECTIVE RETIREMENT DATE, THE
AMOUNT OF THE PERSON'S ACCUMULATED CONTRIBUTIONS SHALL BE
PAID TO THE BENEFICIARY THE PERSON HAS NOMINATED BY WRITTEN
DESIGNATION DULY EXECUTED AND FILED WITH THE BOARD OF
TRUSTEES, OR IF THERE BE NO DESIGNATED BENEFICIARY, THEN TO
THE PERSON'S ESTATE.

Article 88B - State Police

53.

(15) Any member whose service is terminated other than
by death or retirement after he or or she has rendered 15 or
more years of creditable service may elect to receive a
vested retirement allowance. 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 is a deferred allowance commencing at age 50 and
shall be computed as one forty-fifth of his average final
compensation for each of the first twenty-five years of
creditable service, and one ninetieth of his average final
compensation for each year after the first twenty-five years
of creditable service.

If the [member] PERSON who has elected a vested
retirement allowance requests the return of his or her
contributions [or dies] prior to [the date when the first
payment of the retirement allowance becomes normally due]
THE PERSON'S EFFECTIVE RETIREMENT DATE, the amount of the
accumulated contributions shall be returned and no further
benefit shall be due or become payable on account of
previous membership.