Ch. 6

1994 LAWS OF MARYLAND

(2) 1.5% OF THE MEMBER'S AVERAGE FINAL COMPENSATION THAT
EXCEEDS THE SOCIAL SECURITY INTEGRATION LEVEL.

                 (C) SAME — NO SOCIAL SECURITY CONTRIBUTIONS.

(1) THIS SUBSECTION APPLIES TO A MEMBER:

(I) WHO HAS NOT TRANSFERRED FROM THE EMPLOYEES'
RETIREMENT SYSTEM; AND

(II) WHOSE EMPLOYER DOES NOT CONTRIBUTE TO SOCIAL
SECURITY.

. (2) ON RETIREMENT UNDER THIS SECTION, A MEMBER IS ENTITLED TO
RECEIVE A NORMAL SERVICE RETIREMENT ALLOWANCE THAT EQUALS THE
NUMBER OF YEARS OF THE MEMBER'S CREDITABLE SERVICE MULTIPLIED BY 1.5%
OF THE MEMBER'S AVERAGE FINAL COMPENSATION,

(D) SAME — TRANSFEREES FROM EMPLOYEES' RETIREMENT SYSTEM.

(1)      THIS SUBSECTION APPLIES TO A MEMBER WHO HAS TRANSFERRED
FROM THE EMPLOYEES' RETIREMENT SYSTEM.

(2)      ON RETIREMENT UNDER THIS SECTION, A MEMBER IS ENTITLED TO
RECEIVE A NORMAL SERVICE RETIREMENT ALLOWANCE THAT EQUALS:

(I)       2% OF THE MEMBER'S AVERAGE FINAL COMPENSATION
MULTIPLIED BY EACH YEAR OF THE MEMBER'S FIRST 30 YEARS OF CREDITABLE
SERVICE; AND

(II)     1% OF THE MEMBER'S AVERAGE FINAL COMPENSATION
MULTIPLIED BY EACH YEAR OF CREDITABLE SERVICE IN EXCESS OF 30 YEARS.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 10-217.

Throughout this section, the word "normal" is added to modify "service
retirement allowance" to distinguish this type of retirement allowance from
other types of retirement allowance.

In subsection (a) of this section, the word "effective", which formerly modified
"date of retirement", is deleted as surplusage.

Defined terms: "Average final compensation" § 20-101
"Board of Trustees" § 20-101
"Creditable service" § 20-101
"Eligibility service" § 20-101
"Employees' Retirement System" § 20-101
"Local Fire and Police System" § 20-101
"Member" § 20-101
"Retirement" § 20-101
"Retirement allowance" § 20-101
"Social security integration level" § 20-101

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