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ROBERT L. EHRLICH, JR., Governor Ch. 519
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4. the date when the member intends to terminate
employment with the State in the form of a binding letter of resignation accepted by
the Secretary or the Secretary's designee of the Department for which the member is
employed; and
5. any other information required by the Board of Trustees to
implement the DROP; and
(ii) complete and submit a written retirement application form to
the Board of Trustees, on the form that the Board of Trustees provides.
(2) An eligible member's election to participate in the DROP is
irrevocable.
(e) (1) (d) The DROP period is the period elected by the member under
subsection (c) (f)(2) or (g)(3) (e)(2) of this section.
(e) An eligible member may elect to participate in the DROP either
retroactively or prospectively.
(f) (1) This subsection applies to an eligible member who elects to
participate in the DROP retroactively.
(2) A member who participates in the DROP retroactively, may elect to
participate in the DROP for a period not to exceed the lesser of:
(i) 4 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 (e) of this section to participate in the DROP; or
(iii) a term selected by the member.
(2) (3) (i) The DROP period ends on the date the member submits a
DROP application to the Board of Trustees.
(3) (ii) The start date for the DROP period is the date that precedes the
member's application date by the number of days in the DROP period.
(f) (4) (1) (i) The Board of Trustees shall determine the member's
normal service retirement allowance under § 26-401 of the State Personnel and
Pensions Article, as of the member's date of retirement under subsection (e)(3) of this
section paragraph (3)(ii) of this subsection.
(2) (ii) For the period that a member retroactively participates in the
DROP, the Board of Trustees shall:
(i) 1. adjust the member's normal service retirement allowance
for each fiscal year as provided in Title 20, Subtitle 4, Part III of the State Personnel
and Pensions Article that is included in the DROP period; and
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- 3053 -
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