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Session Laws, 1994
Volume 773, Page 556   View pdf image
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Ch. 6                                            1994 LAWS OF MARYLAND

Defined terms: "Eligibility service" § 20-101
"Member" § 20-101

26-306. SAME — APPROVED LEAVES OF ABSENCE.

A MEMBER IS ENTITLED TO ELIGIBILITY SERVICE DURING A LEAVE OF
ABSENCE IF THE LEAVE OF ABSENCE:

(1)      IS APPROVED BY THE BOARD OF TRUSTEES UNDER REGULATIONS
THAT APPLY TO ALL MEMBERS SIMILARLY SITUATED; AND

(2)      IS NOT OTHERWISE RECOGNIZED AS ELIGIBILITY SERVICE UNDER
THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 8-301(d).

Defined terms: "Board of Trustees" § 20-101
"Eligibility service" § 20-101
"Member" § 20-101

26-307. SAME — PURCHASE OF SERVICE CREDIT.

(A)     IN GENERAL.

(1)      IN THE YEAR OF RETIREMENT, A MEMBER MAY PURCHASE SERVICE
CREDIT FOR ELIGIBILITY SERVICE OF UP TO 10 YEARS FOR PERIODS OF
EMPLOYMENT FOR WHICH THE MEMBER:

(I)       WOULD HAVE BEEN ENTITLED TO PURCHASE THE SERVICE
CREDIT UNDER THE EMPLOYEES' PENSION SYSTEM; AND

(II)     IS NOT OTHERWISE ENTITLED TO SERVICE CREDIT UNDER THE
NATURAL RESOURCES PENSION SYSTEM.

(2)      TO PURCHASE SERVICE CREDIT UNDER THIS SECTION, A MEMBER
MUST:

(I)       COMPLETE A CLAIM FOR THE SERVICE CREDIT AND FILE IT
WITH THE BOARD OF TRUSTEES ON THE FORM THAT THE BOARD OF TRUSTEES
PROVIDES; AND                                        

(II)     PAY TO THE BOARD OF TRUSTEES AN AMOUNT EQUAL TO THE
ANNUITY RESERVE AND PENSION RESERVE REQUIRED TO FUND THE ADDITIONAL
ALLOWANCE.

(3)      A MEMBER MAY PAY THE AMOUNT REQUIRED BY PARAGRAPH (2)
OF THIS SUBSECTION ON AN INSTALLMENT BASIS BY CONTRIBUTING AT LEAST 2%
OF EARNABLE COMPENSATION WITH THE APPROPRIATE FINAL ADJUSTMENTS
BEING MADE IN THE YEAR THE MEMBER RETIRES.

(B)      PERIODS DURING WHICH MEMBERSHIP WAS OPTIONAL.

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Session Laws, 1994
Volume 773, Page 556   View pdf image
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