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Ch. 110 2006 LAWS OF MARYLAND
years; requiring the State actuary to prepare a certain evaluation on or before a
certain date; requiring that certain members of the Employees' Pension System
or Teachers' Pension System receive a refund of certain member contributions
plus regular interest under certain circumstances; making a technical
correction; providing for the termination of certain provisions of this Act;
providing for a delayed effective date for certain provisions of this Act; defining
a certain term; and generally relating to enhancements and modifications to
pension and retirement benefits for State employees and teachers certain
members of the Employees' Pension System and Teachers' Pension System State
employees and teachers.
BY repealing and reenacting, without amendments,
Article - State Personnel and Pensions
Section 22-406(a) and (b) and 23-407(a) and (b)
Annotated Code of Maryland
(2004 Replacement Volume and 2005 Supplement)
BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 23-212, 23-217, and 23-401 22-406(e), 23-212, 23-217, 23-401, and
23-407(e) 23-407(e), and 31-112
Annotated Code of Maryland
(2004 Replacement Volume and 2005 Supplement)
BY adding to
Article - State Personnel and Pensions
Section 21-125.1; 23-221 and 23-222 to be under the new part "Part III.
Modified Contributory Pension Benefit Alternate Contributory Pension
Selection"; 23-307.5, and 31-116.1
Annotated Code of Maryland
(2004 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article State Personnel and Pensions
23-212.
(a) Except as [provided in subsection (b) of] OTHERWISE PROVIDED IN this
section, a member's contribution rate is 5% of the part of the member's earnable
compensation that exceeds the taxable wage base for each year.
(b) The contribution rate of a member who is subject to the contributory
pension benefit under Part II of this subtitle is 2% of the member's earnable
compensation.
(C) (1) THIS SUBSECTION DOES NOT APPLY TO:
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