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Session Laws, 1982
Volume 742, Page 3828   View pdf image
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3828                                   LAWS OF MARYLAND                                Ch. 737

into the retirement system an amount equal to the reserves
required to fund the additional allowance for whatever years
of out-of-state and/or nonpublic school teaching service or
postsecondary teaching service OR LEAVES OF ABSENCE as he
may claim. The member may pay for the reserves on an
installment basis by contributing not less than 2 percent of
current salary a year; or by transferring, upon written
request to the board of trustees, any prior contributions to
a voluntary retirement benefit, including an additional
annuity under § 89(1)(d) of this article, less any costs of
administering that benefit. Contributions qualifying under
§ 403(b) of the Internal Revenue Code as amended from time
to time may not be transferred. Any member electing to
contribute toward this service who retires before completing
the payments required to purchase this service shall receive
pro rata credit for service purchased prior to the date of
retirement, but the member may elect at the time of
retirement to make an additional lump-sum payment for the
amount necessary to receive full credit. In the event a
member dies in active service while paying for credit, and
if the credit qualifies for benefits under § 86(8)(b) of
this subtitle, the surviving spouse may pay for the
appropriate final adjustment for such out-of-state or public
school teaching or postsecondary teaching service OR LEAVES
OF ABSENCE as he may have claimed.

144.

(9) In the year of his retirement, a member may
receive credit of up to 10 years towards eligibility for
benefits provided under § 145 of this subtitle; if the
member files claim for it with the board of trustees and
pays into this pension system an amount equal to the
reserves required to fund the additional allowance, which
may be paid on an installment basis by contributing not
less than 2 percent of compensation per year, or by
transferring, upon written request to the board Of trustees,
any prior contributions to a voluntary retirement benefit,
less any costs of administering that benefit. Contributions
qualifying under § 403(b) of the Internal Revenue Code as
amended from time to time may not be transferred. Any
member electing to contribute toward this service who
retires before completing the payments required to purchase
this service shall receive pro rata credit for service
purchased prior to the date of retirement, but the member
may elect at the time of retirement to make an additional
lump-sum payment for the amount necessary to receive full
credit. In the event a member dies in active service while
paying for credit, and if the credit qualifies for benefits
under this subtitle, the surviving spouse may pay for the
appropriate final adjustment. Otherwise, the appropriate
final adjustment shall be made in the year in which a member
retires, and shall be for previous service time:

(a) With an out-of-state public school;

 

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Session Laws, 1982
Volume 742, Page 3828   View pdf image
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