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ROBERT L. EHRLICH, JR., Governor Ch. 575
2. receipt by the Board of Trustees of any other information
that the Board of Trustees requires to process payments under subparagraph (i) of
this paragraph to the member, the designated beneficiary of the member, or the
custodian of an eligible retirement plan.
(6) (7) (8) (i) Except as provided in subparagraph (ii) of this
paragraph, as of the first day of the month following the date the Board of Trustees
approves the member's retroactive participation in the DROP, the Board of Trustees
shall commence and continue payment of the normal service retirement allowance,
including the cost of living adjustments as provided in Title 29, Subtitle 4, Part III of
the State Personnel and Pensions Article, to the member as provided in §§ 24-401 and
24-403 of the State Personnel and Pensions Article.
(ii) If a member dies before the Board of Trustees approves the
member's application to participate retroactively in the DROP, the Board of Trustees
shall pay 50% of the normal service retirement allowance, including the cost of living
adjustments as provided in Title 29, Subtitle 4, Part III of the State Personnel and
Pensions Article, to the beneficiary as provided in § 24-403 of the State Personnel and
Pensions Article.
(h) (g) (1) This subsection applies to an eligible member who elects to
participate in the DROP prospectively.
(2) Aft Except as provided in paragraph (3) of this subsection, an eligible
member shall participate in the DROP in accordance with the provisions of §
24-401.1 of the State Personnel and Pensions Article.
(3) A member who participates in the DROP prospectively, may elect to
participate in the DROP for a period not to exceed the lesser of:
(i) 3 years;
(ii) the difference between age 60 and the member's age as of the
date that the member completes an application under subsection (c) of this section to
participate in the DROP; or
(iii) a term selected by the member.
SECTION 2. AND BE IT FURTHER ENACTED, 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' Pensions System on or
before July 1, 2000; and
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