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PARRIS N. GLENDENING, Governor
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Ch. 395
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(2) A DROP MEMBER IS A RETIREE OF THE LAW ENFORCEMENT
OFFICERS' PENSION SYSTEM.
(G) PARTICIPATION IN THE DROP ENDS IF THE DROP PARTICIPANT:
(1) SEPARATES FROM EMPLOYMENT IN ACCORDANCE WITH THE
BINDING LETTER OF RESIGNATION SUBMITTED WITH THE MEMBER'S ELECTION
FORM;
(2) DIES;
(3) IS TERMINATED FROM EMPLOYMENT BY THE DROP MEMBER'S
PARTICIPATING EMPLOYER AT ANY TIME BEFORE THE DATE SPECIFIED ON THE
MEMBER'S ELECTION FORM;
(4) SHORTENS THE TIME PERIOD FOR PARTICIPATION IN THE DROP BY
DELIVERING TO THE DROP MEMBER'S PARTICIPATING EMPLOYER AND THE BOARD
OF TRUSTEES WRITTEN NOTICE OF THE INTENT OF THE DROP MEMBER TO
TERMINATE EMPLOYMENT; OR
(5) ACCEPTS AN ACCIDENTAL DISABILITY RETIREMENT ALLOWANCE AS
PROVIDED IN SUBSECTION (K) OF THIS SECTION.
(H) (1) AS OF THE EFFECTIVE DATE OF PARTICIPATION IN THE DROP, THE
BOARD OF TRUSTEES SHALL DETERMINE THE DROP MEMBER'S NORMAL SERVICE
RETIREMENT ALLOWANCE UNDER § 26-401 OF THIS SUBTITLE.
(2) DURING THE PERIOD THAT A DROP MEMBER PARTICIPATES IN THE
DROP, THE BOARD OF TRUSTEES SHALL:
(I) DEPOSIT THE DROP MEMBER'S NORMAL SERVICE RETIREMENT
ALLOWANCE IN THE DROP FOR THE DROP MEMBER'S BENEFIT;
(II) ADJUST THE DROP MEMBER'S NORMAL SERVICE RETIREMENT
ALLOWANCE EACH FISCAL YEAR AS PROVIDED IN TITLE 29, SUBTITLE 4, PART VI OF
THIS ARTICLE; AND
(III) ACCRUE INTEREST ON THE AMOUNTS CALCULATED UNDER
SUBPARAGRAPHS (I) AND (II) OF THIS PARAGRAPH FOR THE DROP MEMBER INTO THE
DROP AT THE RATE OF 6% A YEAR, COMPOUNDED MONTHLY.
(3) A DROP MEMBER MAY NOT RECEIVE CREDITABLE SERVICE OR
ELIGIBILITY SERVICE DURING THE PERIOD THAT THE DROP MEMBER PARTICIPATES
IN THE DROP.
(4) A DROP MEMBER'S COMPENSATION DURING THE PERIOD THAT THE
DROP MEMBER PARTICIPATES IN THE DROP MAY NOT BE:
(I) SUBJECT TO THE EMPLOYER PICKUP PROVISIONS OF § 21-303
OF THIS ARTICLE OR ANY REDUCTION OR DEDUCTION AS A MEMBER CONTRIBUTION
FOR PENSION OR RETIREMENT PURPOSES; OR
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- 2165 -
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