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2006 LAWS OF MARYLAND
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Ch. 618
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23-308.
(g) (1) [The] EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, THE total amount of service credit in the Teachers' Retirement System
or Teachers' Pension System that a member may purchase under this section and §
23-308.2 of this subtitle may not exceed 10 years.
(2) A MEMBER WHO PURCHASES SERVICE CREDIT UNDER THIS
SUBSECTION FOR EMPLOYMENT AS A POSTSECONDARY SCHOOL TEACHER MAY NOT
PURCHASE MORE THAN A TOTAL OF 5 YEARS OF SERVICE CREDIT IN THE TEACHERS'
PENSION SYSTEM MAY NOT PURCHASE MORE THAN 5 YEARS OF SERVICE CREDIT IN
THE TEACHERS' PENSION SYSTEM FOR EMPLOYMENT AS A POSTSECONDARY SCHOOL
TEACHER.
24-305.
(a) A member may purchase service credit as provided in subsection (b) of this
section:
(1) for a period of employment when the member was on an
employer-approved leave of absence not exceeding 2 years that has qualified for
purchase under regulations adopted by the Board of Trustees; OR
(2) WHEN MEMBERSHIP WAS MANDATORY BUT FOR WHICH MEMBER
CONTRIBUTIONS WERE NOT MADE.
24-405.
(a) Except as provided in [subsection (d) of this section] § 24-405.1 OF THIS
SUBTITLE and subject to subsections (b) and (c) of this section, an individual who is
receiving a service retirement allowance or vested allowance may accept employment
with a participating employer on a temporary basis, if:
(1) the employment is not in a regularly allocated position; and
(2) the individual immediately notifies the Board of Trustees:
(i) of the individual's intention to accept the employment; and
(ii) of the compensation that the individual will receive.
(b) (1) This subsection does not apply to:
(i) an individual who has been retired for [more than 10 years] 9
YEARS, BEGINNING ON JANUARY 1, AFTER THE DATE THE INDIVIDUAL RETIRES; or
(ii) an individual who participates in the Deferred Retirement
Option Program established under § 24-401.1 of this subtitle.
(2) The Board of Trustees shall reduce an individual's allowance by the
amount that the sum of the individual's initial annual basic allowance and the
individual's annual compensation exceeds the average final compensation used to
compute the basic allowance.
- 2880 -
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