WILLIAM DONALD SCHAEFER, Governor

Ch. 6

(2) EQUALS THE REDUCED ALLOWANCE COMPUTED UNDER § 23-402 OF
THIS ARTICLE.

(F) SAME — RETURN OF CONTRIBUTIONS.

(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 THE FORMER MEMBER IS ELIGIBLE TO BEGIN RECEIVING A
VESTED ALLOWANCE, THE FORMER MEMBER SHALL RECEIVE A PENSION ONLY.

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

Subsections (b) through (e) of this section are new language derived without
substantive change from former Art. 73B, §§ 4-415(a) through (d), 5-414,
8-409, and 10-225.

In subsection (f) of this section, the reference to a "pension only" is
substituted for the phrase "a benefit equal to the State-provided part of the
vested allowance" for brevity and accuracy.

Defined terms: "Accumulated contributions" § 20-101
"Allowance" § 20-101
"Average final compensation" § 20-101
"Board of Trustees" § 20-101
"Creditable service" § 20-101
"Eligibility service" § 20-101
"Employees' Pension System" § 20-101
"Former member" § 20-101
"Local Fire and Police System" § 20-101
"Member" § 20-101

"Natural Resources Pension System" § 20-101
"Normal retirement age" § 20-101
"Pension" § 20-101
"Retirement" § 20-101
"Retirement allowance" § 20-101
"Teachers' Pension System" § 20-101
"Vested allowance" § 20-101

29-304. IMMEDIATE VESTING FOR HEADS OF UNITS OF STATE GOVERNMENT.

AN INDIVIDUAL WHO IS A SECRETARY OF A PRINCIPAL DEPARTMENT OR A
HEAD OF A DEPARTMENT, OFFICE, OR OTHER UNIT OF THE STATE GOVERNMENT
SERVING AT THE GOVERNOR'S PLEASURE HAS IMMEDIATE VESTING RIGHTS ON
TAKING OFFICE IN THE STATE SYSTEM IN WHICH THE INDIVIDUAL IS A MEMBER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 41, § 1-207 and Art. 73B, § 4-415(e).

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