Ch. 6                                            1994 LAWS OF MARYLAND

29-303. VESTED ALLOWANCES FOR MEMBERS OF PENSION SYSTEMS.

(A)     SCOPE OF SECTION.                              
THIS SECTION APPLIES ONLY TO MEMBERS OF:

(1) THE EMPLOYEES' PENSION SYSTEM;                                 

(2)      THE LOCAL FIRE AND POLICE SYSTEM;

(3)      THE NATURAL RESOURCES PENSION SYSTEM; OR

(4)      THE TEACHERS' PENSION SYSTEM.

(B)      CONDITIONS TO RECEIVE VESTED ALLOWANCE.

A MEMBER IS ELIGIBLE TO RECEIVE A VESTED ALLOWANCE IF:

(1)      THE MEMBER SEPARATED FROM EMPLOYMENT OTHER THAN BY
DEATH OR RETIREMENT; AND                                         

(2)      THE MEMBER HAS AT LEAST 5 YEARS OF ELIGIBILITY SERVICE.

(C)     TIME AND METHOD OF PAYMENT; COMPUTATION.

           EXCEPT AS PROVIDED IN SUBSECTION (E) OF THIS SECTION, A VESTED
ALLOWANCE:

(1) IS A DEFERRED ALLOWANCE THAT BEGINS AT NORMAL
RETIREMENT AGE;                      

                       (2) IS COMPUTED AS A NORMAL SERVICE RETIREMENT ALLOWANCE ON
THE BASIS OF THE MEMBER'S AVERAGE FINAL COMPENSATION AND ELIGIBILITY
SERVICE AT SEPARATION FROM EMPLOYMENT; AND

(3)      MAY BE PAID IN ONE OF THE OPTIONAL FORMS OF ALLOWANCES
UNDER § 21-403 OF THIS ARTICLE.                           

(D)     EMPLOYEES AND TEACHERS — SICK LEAVE.

IF A MEMBER OF THE EMPLOYEES' PENSION SYSTEM OR THE TEACHERS'
PENSION SYSTEM SEPARATED FROM EMPLOYMENT ON OR BEFORE JUNE 30, 1990,
UNUSED SICK LEAVE REPORTED BY THE MEMBER'S EMPLOYER AT THE TIME OF
SEPARATION FROM EMPLOYMENT IS CREDITABLE SERVICE FOR. COMPUTING THE
VESTED ALLOWANCE.                                               

(E)      SAME — VESTED ALLOWANCE FOR MEMBERS WITH AT LEAST 15 YEARS.

A FORMER MEMBER OF THE EMPLOYEES' PENSION SYSTEM OR THE TEACHERS'
PENSION SYSTEM WHO HAS SEPARATED FROM EMPLOYMENT BEFORE THE AGE OF
55 WITH AT LEAST 15 YEARS OF ELIGIBILITY SERVICE IS ELIGIBLE TO RECEIVE A
VESTED ALLOWANCE THAT:                                     

(1) BEGINS ON THE FIRST DAY OF THE MONTH FOLLOWING THE
MEMBER'S 55TH BIRTHDAY; AND                                                                               

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