23-310.

THE BOARD OF TRUSTEES SHALL TREAT A MEMBER'S CREDIT FOR UNUSED
SICK LEAVE AS CREDITABLE SERVICE ON OR AFTER JULY 1, 1998, IF AT THE TIME OF
RETIREMENT, THE MEMBER IS:

(1) SUBJECT TO THE CONTRIBUTORY PENSION BENEFIT UNDER
SUBTITLE 2, PART II OF THIS TITLE; AND

(2) ENTITLED TO SERVICE CREDIT FOR UNUSED SICK LEAVE UNDER §
20-206 OF THIS ARTICLE.

23-401.

(a) A member may retire with a normal service retirement allowance if:

(1) the member completes and submits a written application to the
Board of Trustees stating the date when the member desires to retire; and

(2) on or before the date of retirement, the member:

(i) has at least 30 years of eligibility service; or

(ii) has attained the age and the years of eligibility service as

follows:

Age Years of Eligibility Service:

62 with 5

63 with 4

64 with 3

65 or more with 2

(b) Except as provided in subsection (c) of this section, on retirement under
this section, a member is entitled to receive a normal service retirement allowance
that equals the number of years of the member's creditable service multiplied by:

(1) 0.8% of the member's average final compensation that is not in excess
of the Social Security integration level; and

(2) 1.5% of the member's average final compensation that exceeds the
Social Security integration level.

(c) [(1) This subsection does not apply to:

(i) an employee of a participating governmental unit or a former
participating governmental unit that has withdrawn; or

(ii) a member of the Employees' Pension System or Teachers'
Pension System who transferred from the Employees' Retirement System or Teachers'
Retirement System after April 1, 1998.

(2)] On retirement under this section, a member WHO IS SUBJECT TO THE
CONTRIBUTORY PENSION BENEFIT UNDER SUBTITLE 2, PART II OF THIS TITLE is
entitled to receive a normal service retirement allowance that equals the sum of: