WILLIAM DONALD SCHAEFER, Governor

Ch. 6

THE ADDITIONAL CONTRIBUTIONS MADE UNDER THIS SECTION SHALL
BECOME A PART OF THE MEMBER'S ACCUMULATED CONTRIBUTIONS UNTIL THE
MEMBER'S RETIREMENT.

(D) WITHDRAWAL OF ACCUMULATED CONTRIBUTIONS.

A MEMBER MAY:

(1) AT RETIREMENT OR AFTER OTHER SEPARATION FROM
EMPLOYMENT, WITHDRAW IN CASH THE MEMBER'S ADDITIONAL CONTRIBUTIONS
PLUS REGULAR INTEREST; OR

(2) AT RETIREMENT, RECEIVE AN ADDITIONAL ANNUITY THAT IS THE
ACTUARIAL EQUIVALENT OF THE MEMBER'S ADDITIONAL CONTRIBUTIONS PLUS
REGULAR INTEREST.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, §§ 2-202(b), 3-202(b), 4-202(b), 5-202(b),
6-202(b), 7-202(b), 8-202(b), and 10-207(b).

In subsection (a) of this section, the reference to "the appropriate State
system" is added to reflect the consolidation of the provisions on additional
contributions in this section.

In subsection (b) of this section, the references to the member's "estimated"
average final compensation are substituted for the former references to the
member's "average final compensation" to reflect that the actual average final
compensation cannot be obtained at the time any limits would be placed on
the additional contributions since a member's average final compensation can
only be computed at the time of retirement.

In subsection (d) of this section, the references to "regular" interest are added
for the former references to "interest" for accuracy.

In subsection (d)(1) of this section, the reference to "other separation from
employment" is added to state expressly that which formerly only was implied
— i.e., that a member may receive the member's additional contributions in
cash not only when the member retires, but also after any other separation
from employment.

Defined terms: "Accumulated contributions" § 20-101
"Additional contribution" § 20-101
"Allowance" § 20-101
"Annuity" § 20-101

"Average final compensation" § 20-101
"Basic allowance" § 20-101
"Board of Trustees" § 20-101

"Correctional Officers' Retirement System" § 20-101
"Creditable service" § 20-101
"Employees' Pension System" § 20-101
"Employees' Retirement System" § 20-101
"Local Fire and Police System" § 20-101

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