WILLIAM DONALD SCHAEFER, Governor                               Ch. 6

IF A MEMBER OF A STATE OR LOCAL RETIREMENT OR PENSION SYSTEM
TRANSFERS ON OR AFTER JULY 1, 1990, TO A STATE OR LOCAL RETIREMENT OR
PENSION SYSTEM FOR A POLICE DEPARTMENT OR FIRE DEPARTMENT, THE PLANS,
RULES, REGULATIONS, GUIDELINES, AND POLICIES OF THE NEW SYSTEM GOVERN
TO DETERMINE:

(1)      THE YEARS OF SERVICE NECESSARY TO QUALIFY THE MEMBER FOR
RETIREMENT FROM THE NEW SYSTEM; AND

(2)      THE YEARS OF SERVICE AND AMOUNT OF RETIREMENT BENEFITS
TO BE CREDITED BY THE NEW SYSTEM FOR THE YEARS OF SERVICE AND
RETIREMENT BENEFITS EARNED UNDER THE PREVIOUS SYSTEM.

(B) ACTUARIAL COMPUTATIONS.

THE DETERMINATIONS MADE UNDER SUBSECTION (A)(2) OF THIS SECTION
SHALL BE MADE BY ACTUARIAL COMPUTATIONS OF THE NEW SYSTEM.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-401(f)(1), (2), and (3).

As to former Art. 73B, § 1-401(f)(4), see § 37-203(c) of this subtitle.

Defined terms: "Member" § 37-101
"New system" § 37-101
"Previous system" § 37-101
"Retirement" § 37-101
"State or local retirement or pension system" § 37-101

37-205. INVOLUNTARY TRANSFERS OF EMPLOYMENT.

(A)     IN GENERAL.

IF A MEMBER OF A STATE OR LOCAL RETIREMENT OR PENSION SYSTEM
TRANSFERS TO ANOTHER STATE OR LOCAL RETIREMENT OR PENSION SYSTEM
BECAUSE OF AN INVOLUNTARY TRANSFER OF THE MEMBER'S UNIT TO ANOTHER
EMPLOYER, ALL THE EMPLOYER CONTRIBUTIONS ON BEHALF OF THE MEMBER AND
INTEREST ON THOSE CONTRIBUTIONS SHALL BE TRANSFERRED TO THE NEW
SYSTEM.

(B)      ACTUARIAL VALUATIONS.

(1)      THE AMOUNT TO BE TRANSFERRED TO THE NEW SYSTEM UNDER
SUBSECTION (A) OF THIS SECTION SHALL BE DETERMINED BY ACTUARIAL
VALUATION.

(2)      THE COST OF THE VALUATION SHALL BE SHARED EQUALLY BY THE
PREVIOUS SYSTEM AND THE NEW SYSTEM.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-403(a).

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