WILLIAM DONALD SCHAEFER, Governor                            Ch. 6

(1)      IF A FORMER MEMBER WHO ELECTED A VESTED ALLOWANCE
REQUESTS THE RETURN OF ACCUMULATED CONTRIBUTIONS BEFORE PAYMENT OF
THE VESTED ALLOWANCE BEGINS, THE BOARD OF TRUSTEES SHALL RETURN THE
ACCUMULATED CONTRIBUTIONS TO THE FORMER MEMBER.

(2)     WHEN ACCUMULATED CONTRIBUTIONS ARE RETURNED TO A
FORMER MEMBER, THE FORMER MEMBER IS NOT ENTITLED TO FURTHER BENEFITS
ON ACCOUNT OF THE FORMER MEMBER'S PREVIOUS MEMBERSHIP.

REVISOR'S NOTE: Subsection (a) of this section is new language added for
clarity.

Subsections (b)(1) and (3) and (d) through (f) of this section are new language
derived without substantive change from former Art. 73B, §§ 2-418, 3-415,
6-412, and 7-411.

Subsection (b)(2) is new language added to state expressly that which formerly
only was implied by Ch. 532, Acts of 1989, — i.e., although Ch. 532 changed
the number of years required for vesting to 5 years for those separating from
employment on or after July 1, 1989, the former requirement of 15 years still
applies to those who separated from employment before that date.

In subsection (b)(3) of this section, the phrase "before membership ends" is
substituted for the former references to the 2-year and 5-year time periods
after separation from employment for brevity. It is at the end of those time
periods that membership ends.

In subsection (d) of this section, the reference to a "normal service retirement
allowance" is substituted for cross-references under former Art. 73B, §§
2-418(a), 3-415(a), and 7-411(a) and for the reference to the computation of
a normal service retirement allowance under § 6-412(a) for brevity and
consistency.

Defined terms: "Accumulated contributions" § 20-101
"Allowance" § 20-101
"Average final compensation" § 20-101
"Board of Trustees" § 20-101

"Correctional Officers' Retirement System" § 20-101
"Creditable service" § 20-101
"Eligibility service" § 20-101
"Employees' Retirement System" § 20-101
"Former member" § 20-101
"Member" § 20-101
"Normal retirement age" § 20-101
"Retirement" § 20-101
"Retirement allowance" § 20-101
"State Police Retirement System" § 20-101
"Teachers' Retirement System" § 20-101
"Vested allowance" § 20-101

- 619 -