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Ch. 426
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2002 LAWS OF MARYLAND
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(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.
(2) Except as provided in § 37-204 of this subtitle, if an individual
transfers from a noncontributory system to a contributory system, on retirement the
individual's retirement allowance shall be reduced by the actuarial equivalent of the
accumulated contributions that would have been deducted if the individual had
earned the transferred service credit under the new system, including interest on
those contributions.
(3) If an individual retires within 5 years after transferring into a new
system, the benefits payable with respect to the transferred service credit may not be
greater than the benefits that would have been payable by the previous system with
respect to that service if the individual had remained in the previous system.
SECTION 2. AND BE IT FURTHER ENACTED, That the time limitations
described in § 37-203{b) of the State Personnel and Pensions Article do not apply to a
member of the State Police Retirement System who:
(1) made a claim to transfer service credit under Title 37 within 1 year
after becoming a member but the claim was not processed; and
(2) submits a completed claim form to the State Retirement Agency and
deposits in the annuity savings fund of the State Police Retirement System the
member's total accumulated contributions from the previous system.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall be
construed retroactively and shall be applied to and interpreted to affect only
individuals who became members of the State Police Retirement System on or after
January 1, 2000.
SECTION 4. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2002. It shall remain effective for a period of 12 months and, at the end of June
30, 2003, with no further action required by the General Assembly, this Act shall be
abrogated and of no further force and effect.
Approved May 6, 2002.
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- 3218 -
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