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Ch. 375
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2002 LAWS OF MARYLAND
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(2) "Eligible rollover distribution" does not include:
(i) any distribution that is one of a series of substantially equal
periodic payments that are made at least annually for the life or life expectancy of the
participant or the joint lives or joint life expectancies of the participant and the
participant's beneficiary;
(ii) any distribution that is one of a series of substantially equal
periodic payments made for a specified period of at least 10 years; OR
(iii) any distribution that is required under § 401(a)(9) of the
Internal Revenue Code[; or
(iv) except for a distribution under § 21-602(c) of this subtitle, the
part of any distribution that is not includable in the participant's gross income].
(d) "Eligible retirement plan" means:
(1) an individual retirement account described in § 408(a) of the Internal
Revenue Code;
(2) an individual retirement annuity, other than an endowment contract,
described in § 408(b) of the Internal Revenue Code;
(3) a qualified trust described in § 401(a) of the Internal Revenue Code
that is exempt from tax under § 501(a) of the Internal Revenue Code; [or]
(4) an annuity plan described in § 403(a) of the Internal Revenue Code;
(5) AN ANNUITY PLAN DESCRIBED IN § 403(B) OF THE INTERNAL
REVENUE CODE; OR
(6) A DEFERRED COMPENSATION PLAN THAT IS MAINTAINED BY AN
ELIGIBLE EMPLOYER DESCRIBED IN § 457 OF THE INTERNAL REVENUE CODE OR ANY
SUCCESSOR PROVISIONS.
23-308.
(a) In the year of retirement, a member of the Teachers' Pension System may
purchase credit for eligibility service for periods of employment described in
subsection [(g)] (F) of this section for which the member is not otherwise entitled to
service credit.
(b) Except as provided in § 23-308.2 of this subtitle, to purchase service credit
under this section, a member must:
(1) complete and file a claim for the service credit with the Board of
Trustees on the form that the Board of Trustees provides; and
(2) pay to the Board of Trustees an amount equal to the annuity reserve
and pension reserve required to fund the additional allowance.
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(c) A member may pay the amount required by subsection (b) of this section:
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