WILLIAM DONALD SCHAEFER, Governor

Ch. 6

"Employees' Retirement System" § 20-101
"Local Fire and Police System" § 20-101
"Member" § 20-101
"Teachers' Pension System" § 20-101

29-207. DEATH BENEFIT FOR FORMER MEMBERS.

IF A FORMER MEMBER WHO IS ELIGIBLE FOR A VESTED ALLOWANCE DIES
BEFORE PAYMENT OF THE VESTED ALLOWANCE STARTS, THE BOARD OF TRUSTEES,
AFTER RECEIVING PROOF OF DEATH, SHALL PAY THE FORMER MEMBER'S
ACCUMULATED CONTRIBUTIONS TO:

(1)      THE DESIGNATED BENEFICIARY; OR

(2)      IF THERE IS NO DESIGNATED BENEFICIARY, THE FORMER
MEMBER'S ESTATE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, §§ 2-419, 3-416, 4-416, 5-415, 6-413, 7-412,
8-410, and 10-226.

Defined terms: "Accumulated contributions" § 20-101
"Board of Trustees" § 20-101
"Designated beneficiary" § 20-101
"Former member" § 20-101
"Vested allowance" § 20-101

SUBTITLE 3. DEFERRED VESTED BENEFITS.

29-301. SCOPE OF SUBTITLE.

THIS SUBTITLE DOES NOT APPLY TO THE JUDGES' RETIREMENT SYSTEM.

REVISOR'S NOTE: This section is new language added for clarity.

Defined term: "Judges' Retirement System" § 20-101
29-302. VESTED ALLOWANCES FOR MEMBERS OF RETIREMENT SYSTEMS.

(A)     SCOPE OF SECTION.

THIS SECTION APPLIES ONLY TO MEMBERS OF:

(1)      THE CORRECTIONAL OFFICERS' RETIREMENT SYSTEM;

(2)      THE EMPLOYEES' RETIREMENT SYSTEM;

(3)      THE STATE POLICE RETIREMENT SYSTEM; AND

(4)      THE TEACHERS' RETIREMENT SYSTEM.

(B)      CONDITIONS TO RECEIVE VESTED ALLOWANCE.

(1) A MEMBER MAY ELECT TO RECEIVE A VESTED ALLOWANCE IF:

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