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2006 LAWS OF MARYLAND
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Ch. 110
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(c) Except as provided in [subsection (d)] SUBSECTION (E) of this section, on
retirement under this section, a member who is subject to the contributory pension
benefit under Subtitle 2, Part II of this title is entitled to receive a normal service
retirement allowance that equals the sum of:
(1) the number of years of the member's creditable service on or after
July 1, 1998 multiplied by 1.4% of the member's average final compensation; and
(2) the greater of:
(i) the number of years of the member's creditable service on or
before June 30,1998 multiplied by 1.2% of the member's average final compensation;
or
(ii) the number of years of the member's creditable service on or
before June 30, 1998 multiplied by:
1. 0.8% of the member's average final compensation that is
not in excess of the Social Security integration level; and
2. 1.5% of the member's average final compensation that
exceeds the Social Security integration level.
(d) EXCEPT AS PROVIDED IN SUBSECTION (E) OF THIS SECTION, A MEMBER
WHO IS SUBJECT TO THE MODIFIED ALTERNATE CONTRIBUTORY PENSION BENEFIT
SELECTION UNDER SUBTITLE 2, PART III OF THIS TITLE IS ENTITLED TO RECEIVE A
NORMAL SERVICE RETIREMENT ALLOWANCE THAT EQUALS THE SUM OF:
(1) THE GREATER OF:
(I) THE NUMBER OF YEARS OF THE MEMBER'S CREDITABLE
SERVICE ON OR BEFORE JUNE 30, 1998 MULTIPLIED BY 1.2% OF THE MEMBER'S
AVERAGE FINAL COMPENSATION; OR
(II) THE NUMBER OF YEARS OF THE MEMBER'S CREDITABLE
SERVICE ON OR BEFORE JUNE 30, 1998 MULTIPLIED BY:
L 0.8% OF THE MEMBER'S AVERAGE FINAL COMPENSATION
THAT IS NOT IN EXCESS OF THE SOCIAL SECURITY INTEGRATION LEVEL; AND
2, 1.5% OF THE MEMBER'S AVERAGE FINAL COMPENSATION
THAT EXCEEDS THE SOCIAL SECURITY INTEGRATION LEVEL; AND
(2) THE NUMBER OF YEARS OF THE MEMBER'S CREDITABLE SERVICE ON
OR AFTER JULY 1, 1008 AND ON OR BEFORE JUNE 30, 2002 2006 MULTIPLIED BY 1.4%
OF THE MEMBER'S AVERAGE FINAL COMPENSATION; AND
(3) THE NUMBER OF YEARS OF THE MEMBER'S CREDITABLE SERVICE ON
OR AFTER JULY 1, 2003 AND ON OR BEFORE JUNE 30, 3006 MULTIPLIED BY 1.6% OF
THE MEMBER'S AVERAGE FINAL COMPENSATION; AND
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