HARRY HUGHES, Governor

27

SATISFACTORY PROOF OF GOOD CAUSE FOR DELAY. FAILURE TO RECEIVE
NOTICE OR INABILITY TO RESPOND TO NOTICE SHALL CONSTITUTE GOOD
CAUSE.

(3)  A MEMBER WHO SELECTS THE RETIREMENT ALLOWANCE AS
PROVIDED IN THIS SECTION SHALL RECEIVE A RETIREMENT ALLOWANCE FOR
ALL CREDITABLE SERVICE AS FOLLOWS:

(A)  FOR SERVICE RETIREMENT AS PROVIDED BY § 11(3)(A)
OF THIS ARTICLE;

(B)  FOR EARLY RETIREMENT FOR SERVICE AS PROVIDED BY §
11(3)(A)(I) OF THIS ARTICLE;

(C)  FOR RETIREMENT FOR ORDINARY DISABILITY AS
PROVIDED BY § 11(5) OF THIS ARTICLE; AND

(D)  FOR RETIREMENT FOR ACCIDENTAL DISABILITY AS
PROVIDED BY § 11(7) OF THIS ARTICLE.

(4)  A MEMBER WHO SELECTS THE RETIREMENT ALLOWANCE AS
PROVIDED IN THIS SECTION SHALL HAVE THE RETIREMENT ALLOWANCE
ADJUSTED AS PROVIDED IN § 11A OF THIS ARTICLE.

(5)  FOR CREDITABLE SERVICE FROM JULY 1, 1984, THE
PROPORTION OF EARNABLE COMPENSATION PAYABLE AS PROVIDED BY §
14(1)(A) OF THIS ARTICLE SHALL BE INCREASED BY AN ADDITIONAL 2
PERCENT OF EARNABLE COMPENSATION.

(6)  A MEMBER WHO SELECTS THE OPTION PROVIDED IN THIS
SECTION MAY AFTER SELECTION OF THIS OPTION:

(A)  TRANSFER TO THE PENSION SYSTEM FOR EMPLOYEES OF
THE STATE OF MARYLAND AS PROVIDED BY § 113 OF THIS ARTICLE;

(B) ACCUMULATED CONTRIBUTIONS RETURNED TO THE MEMBER
AS OF THE DATE OF TRANSFER PURSUANT TO SECTION 14(1)(G) OR
SECTION 89(1)(E) OF THIS ARTICLE SHALL BE RETURNED TO THE MEMBER
WITH THE AVERAGE RATE OF INTEREST FOR THE 5 YEARS PRECEDING THE
YEAR OF TRANSFER COMPOUNDED ANNUALLY. THE RATE OF INTEREST FOR
ANY ONE YEAR SHALL BE COMPUTED AS THE SUM OF THE INVESTMENT
INCOME AND THE REALIZED GAINS AND LOSSES DIVIDED BY THE BOOK
VALUE OF THE TOTAL INVESTMENTS;

(B) (C) SELECT A RETIREMENT ALLOWANCE AS PROVIDED IN
§ 11C OF THIS ARTICLE. THE INCREASE IN THE PROPORTION OF
EARNABLE COMPENSATION PAYABLE PROVIDED IN SUBSECTION (5) OF THIS
SECTION SHALL NOT BE REFUNDED; OR

(C) (D) SELECT A RETIREMENT ALLOWANCE AS PROVIDED IN
§ 11B OF THIS ARTICLE, THE ADJUSTMENT AS PROVIDED IN § 11A 11B(3)
OF THIS ARTICLE, AND THE PROPORTION OF EARNABLE COMPENSATION THAT
IS PAYABLE AS PROVIDED IN § 122(1)(B) OF THIS ARTICLE, WITH THE
EFFECTIVE DATE OF THE SELECTION BEING SUBSTITUTED FOR JULY 1,
1984.