|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
|
|
|
|
|
|
Ch. 362
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[(o)] (Q) "State or local retirement or pension system" means any retirement
or pension system operated under the laws of the State or any political subdivision of
the State.
[(p)] (R) "State system" means a retirement or pension system that is included
in the Maryland State Retirement and Pension Systems under § 21-102 of this
article.
37-203.
(a) THIS SECTION DOES NOT APPLY TO A TRANSFER OF SERVICE CREDIT TO
OR FROM THE STATE CONTRIBUTORY EMPLOYEES' PENSION SYSTEM OR THE STATE
CONTRIBUTORY TEACHERS' PENSION SYSTEM.
(B) (1) An individual may not transfer service credit under this title unless
the individual makes a claim for the service credit within 1 year after becoming a
member of the new system.
(2) An individual may not transfer service credit from one contributory
system to another contributory system unless within 1 year after becoming a member
of the new system the individual deposits in the annuity savings fund or other
corresponding fund of the new system the total accumulated contributions to the
individual's credit in the annuity savings fund or other corresponding fund of the
previous system.
[(b)] (C) Except as provided in § 37-204 of this subtitle, an individual who
transfers service credit under this title shall receive service credit in the new system
in the amount of service credit accumulated under the previous system.
[(c)] (D) On verification of the service credit, the previous system may not
provide any benefit for service credit transferred from the previous system to a new
system under this title.
[(d)] (E)(l)Except as provided in paragraph (2) of this subsection, if an
individual transfers service credit under this title, the previous system shall refund
the individual's accumulated contributions on request.
(2) Accumulated contributions applicable to the receipt of service credit
or benefits in the new system may not be refunded if:
(i) an individual transfers from one noncontributory system to
another noncontributory system; or
(ii) a former member transfers under § 37-202(b) of this subtitle.
[(e)] (F) (1) Except as otherwise provided in this subsection, after an
individual transfers service credit to a new system under this title, the individual:
(i) shall pay the rate of contribution applicable to a member of the
new system; and
(ii) is eligible for a pension and annuity as provided under the new
system, determined by taking into account the transferred service credit.
|
|
|
|
|
|
|
|
|
|
- 2063 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
