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Session Laws, 2000
Volume 797, Page 2119   View pdf image
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PARRIS N. GLENDENING, Governor
Ch. 374
(2) subject to the actuary's concurrence, by means of annual payments
other than level annual payments. (f) A participating governmental unit may prepay the special accrued liability
in whole or in part at any time with interest at the annual rate established by the
Board of Trustees as of the date of payment. (g) The expense of making the initial special accrued liability actuarial
valuation shall be assessed against and paid by the participating governmental unit
on whose account it is necessary. 23-204. (b) Membership in the Employees' Pension System is optional for the
employees of a participating governmental unit who are employed by the
participating governmental unit on the effective date of participation in the State
systems. 31-113. (a) [The] EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, THE
operation of the local pension system of an eligible governmental unit terminates on
the effective date. (b) [The Employees' Pension System shall continue to pay benefits at the
existing benefit rate to a person who is receiving benefits from a local pension system
on the effective date.] (1) AN ELIGIBLE GOVERNMENTAL UNIT MAY ELECT TO CONTINUE TO
OPERATE A LOCAL PENSION SYSTEM AFTER THE EFFECTIVE DATE OF
PARTICIPATION IN THE EMPLOYEES' PENSION SYSTEM TO PROVIDE BENEFITS TO A
PERSON WHO: (I) IS RECEIVING BENEFITS FROM THE LOCAL PENSION SYSTEM; (II) IS ELIGIBLE TO RECEIVE BENEFITS FROM THE LOCAL PENSION
SYSTEM ON ACCOUNT OF THE PERSON'S PREVIOUS EMPLOYMENT BY THE ELIGIBLE
GOVERNMENTAL UNIT; OR (III) DID NOT ELECT TO JOIN THE EMPLOYEES' PENSION SYSTEM
UNDER § 23-204(B) OF THIS ARTICLE. (2) A PERSON MAY NOT BE ENROLLED IN THE LOCAL PENSION SYSTEM
OF A PARTICIPATING GOVERNMENTAL UNIT ELECTING TO CONTINUE TO OPERATE
ITS SYSTEM UNDER PARAGRAPH (1) OF THIS SUBSECTION IF THE PERSON BECOMES
EMPLOYED OR IS REHIRED BY THE PARTICIPATING GOVERNMENTAL UNIT ON OR
AFTER THE EFFECTIVE DATE OF PARTICIPATION OF THE PARTICIPATING
GOVERNMENTAL UNIT IN THE EMPLOYEES' PENSION SYSTEM. (c) The liability for the continuation of benefits under subsection (b) of this
section shall be included in the computation of the special accrued liability as
provided by § 21-305.3 of this article.
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Session Laws, 2000
Volume 797, Page 2119   View pdf image
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