PARRIS N. GLENDENING, Governor

H.B. 547

(V)     AN EMPLOYEE'S CONTRIBUTION MAY NOT EXCEED 7 PERCENT
OF WAGES (BASE SALARY).

(VI)    THERE SHALL BE A COST OF LIVING ADJUSTMENT AND A
PROVISION FOR A CASH REFUND OF CONTRIBUTION FOR PERSONS TERMINATING
EMPLOYMENT.

(VII)  THERE SHALL BE A PROVISION FOR CREDIT 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.

(VIII) THIS PENSION PLAN SHALL BECOME EFFECTIVE ON JULY 1.
1995.

(4) (I) IN CHARLES COUNTY, THE COUNTY COMMISSIONERS SHALL
ESTABLISH A SEPARATE PENSION PLAN FOR THE EMPLOYEES OF THE COUNTY WHO
ARE CLASSIFIED AS COMMUNICATIONS EMPLOYEES.

(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 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 COMMUNICATIONS EMPLOYEE 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.

(V)     AN EMPLOYEE'S CONTRIBUTION MAY NOT EXCEED 7 PERCENT
OF WAGES (BASE SALARY).

(VI)    THERE SHALL BE A COST OF LIVING ADJUSTMENT AND A
PROVISION FOR A CASH REFUND OF CONTRIBUTION FOR PERSONS TERMINATING
EMPLOYMENT.

(VII)  THERE SHALL BE A PROVISION FOR CREDIT 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.

(VIII)   THIS PENSION PLAN SHALL BECOME EFFECTIVE ON JULY 1.
1995.

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