H.B. 547                                                       VETOES

(iv) The plan shall contain disability provisions and death benefits for
spouse and minor children.

(v) Employee's contribution may not exceed [the total of the
following:

1.        7% of wages not in excess of the amount of wages which are
subject to Social Security taxes (FICA); and

2.        10% of wages which are in excess of the amount of wages
which are subject to Social Security taxes (FICA)] 8 PERCENT OF WAGES (BASE
SALARY).

(vi) There shall be a cost of living adjustment and a provision for a cash
refund of contribution, plus interest, for persons terminating employment.

(VII) THERE SHALL BE A PROVISION FOR CREDIT OF 2 PERCENT FOR
EACH YEAR OF ACTIVE DUTY IN THE ARMED FORCES OF THE UNITED STATES, FOR
UP TO 3 YEARS OF ACTIVE DUTY, TO BE ADDED TO THE EMPLOYEE'S RETIREMENT
AFTER REACHING MINIMUM RETIREMENT.

[(vii)] (VIII) THIS PENSION PLAN SHALL ALSO PROVIDE FOR EARLY
RETIREMENT AFTER 20 YEARS OF SERVICE. THIS PROVISION FOR EARLY
RETIREMENT MAY SHALL CONTAIN CHARGES FOR RETIRING EARLY. THE
RETIREMENT INCOME SHALL BE REDUCED ACTUARIALLY DEPENDING ON AGE FOR
EACH YEAR LESS THAN 25 YEARS OF SERVICE. THE EARLY RETIREMENT PROVISION IN
PARAGRAPH (2) OF THIS SUBSECTION SHALL BE APPROVED BY THE GOVERNING BODY
OF CHARLES COUNTY BEFORE THE PROVISION MAY BE IMPLEMENTED.

(IX) This pension plan shall become effective on July 1, [1986] 1995.

(3) (I) IN CHARLES COUNTY, THE COUNTY COMMISSIONERS SHALL
ESTABLISH A SEPARATE PENSION PLAN FOR THE EMPLOYEES OF THE CHARLES
COUNTY SHERIFF'S DEPARTMENT WHO ARE CLASSIFIED AS CORRECTIONAL
OFFICERS.

(II)     THE PENSION PLAN SHALL PROVIDE ELIGIBILITY FOR
RETIREMENT AFTER 25 YEARS OF ACTIVE SERVICE REGARDLESS OF AGE, AND FOR
EARLY RETIREMENT AFTER 20 YEARS OF ACTIVE SERVICE REDUCED ACTUARIALLY
DEPENDING ON AGE FOR EACH YEAR LESS THAN 25 YEARS OF SERVICE. THE EARLY
RETIREMENT PROVISION IN THIS PARAGRAPH SHALL BE APPROVED BY THE GOVERNING
BODY OF CHARLES COUNTY BEFORE THE PROVISION MAY BE IMPLEMENTED.
RETIREMENT INCOME SHALL BE 2.25 PERCENT FOR EACH YEAR OF CREDITED
SERVICE NOT TO EXCEED A MAXIMUM BENEFIT OF 75 PERCENT OF FINAL AVERAGE
EARNINGS (BASE SALARY) FOR THE 3 HIGHEST YEARS PRECEDING RETIREMENT.

(III)   THE PLAN SHALL BE RETROACTIVE IN THAT IT MAY INCLUDE
ANY LIVING PERSON WHO IS WORKING AS A CORRECTIONAL OFFICER ON JULY 1,
1995, AND SHALL APPLY BACK TO THE DATE OF THAT EMPLOYMENT.

(IV)    THE PLAN SHALL CONTAIN DISABILITY PROVISIONS AND
DEATH BENEFITS FOR SPOUSE AND MINOR CHILDREN.

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