WILLIAM DONALD SCHAEFER, Governor

Ch. 6

(3) THE TEMPORARY EMPLOYMENT OR CONTRACT IS NOT IN A
REGULARLY ALLOCATED POSITION.

(B) LIMITATION ON EARNINGS; REDUCTION OF RETIREMENT ALLOWANCE.

THE BOARD OF TRUSTEES SHALL REDUCE A RETIREE'S RETIREMENT
ALLOWANCE BY THE AMOUNT THAT THE SUM OF THE RETIREE'S ANNUAL BASIC
ALLOWANCE, AT THE TIME OF RETIREMENT, AND THE RETIREE'S ANNUAL
COMPENSATION EXCEEDS THE AVERAGE FINAL COMPENSATION USED TO COMPUTE
THE BASIC ALLOWANCE.                                                                                                   '

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, §§ 4-411(a) and 5-410(a).

In subsection (a) of this section, the reference to "receiving a service
retirement allowance" is added to clarify that this provision applies only to a
retiree receiving a service retirement allowance.

Also in subsection (a) of this section, the reference to "accepting]
employment ... on a temporary or contractual basis" is substituted for the
former reference to "accepting] temporary employment or entering] into a
contract for personal services" for brevity and to conform to Division I of this
article.

In subsection (b) of this section, the reference to the "Board of Trustees ...
reducing] a retiree's retirement allowance" is substituted for the former
limitation on the retirement allowance in the first sentences, and the
determination of the allowable earnings of a retiree in the second sentences of
former Art. 73B, §§ 4-411(a)(4) and 5-410(a)(4) for clarity and to more
accurately reflect current practice - i.e., when a retiree's salary exceeds the
allowed amount, the Board of Trustees correspondingly offsets the service
retirement allowance.

Also in subsection (b) of this section, the word "annual" is added to modify
''basic allowance" to clarify that the annual figure is used to compare to the
annual compensation of the retiree. •

Defined terms: "Average final compensation" § 20-101
"Basic allowance" § 20-101
"Board of Trustees" § 20-101
"Member" § 20-101
"Participating employer" § 20-101
"Retiree" § 20-101
"Retirement" § 20-101
"Retirement allowance" § 20-101

23-408. SAME — AS PERMANENT EMPLOYEE.

(A) TERMINATION OF RETIREMENT; MEMBERSHIP REQUIRED.

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