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Ch. 519 2005 LAWS OF MARYLAND
service for a certain period of time; requiring the Board of Trustees for the State
Retirement and Pension System to make certain payments to certain
individuals within a certain period of time; providing that certain payments
made by the Board of Trustees for the State Retirement and Pension System to
certain individuals may be made in a certain manner; defining a certain term;
providing for the termination of this Act; and generally relating to the eligibility
of members of the Law Enforcement Officers' Pension System to participate in
the Deferred Retirement Option Program.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:
(a) In this section, "DROP" means the Deferred Retirement Option Program
established under § 26-401.1 of the State Personnel and Pensions Article.
(b) This section applies only to a member of the Law Enforcement Officers'
Pension System who:
(1) is a member of the Law Enforcement Officers' Pension System on
July 1, 2005;
(2) was a member of the Law Enforcement Officers' Pension System on
or before July 1, 2000; and
(3) had accrued more than 25 years of eligibility service as of July 1,
2000, preventing the member from participating in the DROP for 5 years.
(e) A member who is described in subsection (b) of this section, may elect to
participate in the DROP for a period not to exceed the lesser of:
(i) 5 years;
(ii) the difference between the mandatory retirement age for the
member and the member's age as of the date that the member completes an
application under subsection (d) of this section to participate in the DROP; or
(iii) a term selected by the member.
(d) (c) (1) An eligible member who elects to participate in the DROP shall:
(i) complete and submit a written election form to the Board of
Trustees on or before December 31, 2005, on the form that the Board of Trustees
provides, stating:
1. the member's intention to participate in the DROP;
2. the date when the member desires to retire;
3. the period that the member desires to participate in the
DROP, as provided in subsection (c) of this section;
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