Ch. 371

1995 LAWS OF MARYLAND

(1)     make an election under this section in writing; and

(2)     file the election with the Board of Trustees and the employing
institution [at least 90 days before the effective date of the election].

[(d) Except as otherwise provided in § 30-307 of this subtitle, an election is a
waiver of all rights and benefits provided by the retirement system or pension system in
which the participating employee was a member on the effective date of the election.]

30-307.

(a) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, AN ELECTION TO
PARTICIPATE IN THE PROGRAM IS A WAIVER OF ALL RIGHTS AND BENEFITS
PROVIDED BY THE RETIREMENT OR PENSION SYSTEM IN WHICH THE
PARTICIPATING EMPLOYEE WAS A MEMBER ON THE EFFECTIVE DATE OF THE
ELECTION.

(B) For the purpose of determining eligibility for immediate vested rights or
benefits in a retirement system or pension system, an eligible employee who is a member
of that State system when the employee elects to participate in the program is deemed to
have separated from employment on the effective date of the election.

[(b)](C) The Board of Trustees may only compute retirement system or pension
system benefits on the basis of years of creditable service as a member of that State
system.

[(c)] (D) (1) A participating employee may withdraw OR TRANSFER TO THE
PROGRAM any accumulated contributions in the annuity savings fund on or after the
effective date of the participating employee's election to join the program.

(2) If a participating employee withdraws OR TRANSFERS TO THE
PROGRAM the accumulated contributions, the participating employee forfeits any right to
a benefit in the State system from which the accumulated contributions were withdrawn.

[(d)](E) A participating employee is ineligible for membership in a retirement
system or pension system while the participating employee is employed in any eligible
position by any employing institution.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1995.

Approved May 18, 1995.

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