WILLIAM DONALD SCHAEFER, Governor

Ch. 6

Defined terms: "Average final compensation" § 20-101
"Board of Trustees" § 20-101
"Creditable service" § 20-101
"Eligibility service" § 20-101
"Member" § 20-101
"Retirement" § 20-101
"Retirement allowance" § 20-101

24-402. RETIREMENT AFTER TERMINATION OF MEMBERSHIP.

(A)     SCOPE OF SECTION.

THIS SECTION APPLIES TO A FORMER MEMBER WHO:

(1)      WAS ELIGIBLE FOR A RETIREMENT ALLOWANCE UNDER § 24-401 OF
THIS SUBTITLE WHEN THE FORMER MEMBER'S MEMBERSHIP TERMINATED;

(2)      DID NOT SUBMIT A WRITTEN APPLICATION UNDER § 24-401 OF THIS
SUBTITLE BEFORE MEMBERSHIP TERMINATED; AND

(3)      HAS NOT WITHDRAWN ACCUMULATED CONTRIBUTIONS.

(B)     APPLICATION FOR RETIREMENT; RETROACTIVE PAYMENTS PROHIBITED.

(1)      A FORMER MEMBER DESCRIBED IN SUBSECTION (A) OF THIS
SECTION MAY RETIRE WITH A RETIREMENT ALLOWANCE UNDER § 24-401 OF THIS
SUBTITLE ON THE FIRST DAY OF THE MONTH AFTER THE BOARD OF TRUSTEES
RECEIVES A WRITTEN APPLICATION FOR RETIREMENT FROM THE FORMER
MEMBER.

(2)      A FORMER MEMBER WHO RETIRES UNDER THIS SECTION MAY NOT
RECEIVE BENEFITS FOR THE PERIOD BEFORE THE FORMER MEMBER SUBMITTED A
COMPLETED APPLICATION FOR RETIREMENT TO THE BOARD OF TRUSTEES.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 6-402.

In subsection (a)(1) of this section, the phrase "was eligible ... when the
former member's membership terminated" is substituted for "[i]s otherwise
eligible" to clarify when an individual must be eligible.

In subsection (b)(1) of this section, the phrase "with a retirement allowance
under § 24-401 of this subtitle" is added to state expressly that which was
formerly only implied in the law - i.e., the former member would retire with a
retirement allowance.

In subsection (b)(2) of this section, the reference to "benefits for the period
before the former member submitted a completed application for retirement
to the Board of Trustees" is substituted for the former reference to
"retroactive payments" to clarify what was meant by retroactive payments.

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