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Ch. 337
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Martin O'Malley, Governor
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(c) (1) This subsection applies to a member OF THE EMPLOYEES'
PENSION SYSTEM OR TEACHERS' PENSION SYSTEM WHO IS SUBJECT TO THE
NONCONTRIBUTORY PENSION BENEFIT AND who was on authorized leave of
absence at partial pay or without pay during the last 3 years of employment as a
member.
(2) If the period used to determine average final compensation is the
period that immediately precedes the date of retirement or other separation from
employment, the Board of Trustees:
(i) may not include in the computation of average final
compensation the period of months of the leave of absence, not exceeding 12, that
otherwise would be included in the computation; and
(ii) shall substitute an equal number of months immediately
preceding that period.
21-305.5.
(a) (1) In this section the following words have the meanings indicated.
(2) "Complement of the participant funding ratio" is a ratio equal to
100% minus the participant funding ratio, and may not be less than zero.
(3) "Employees' systems" means the Employees' Pension System and
the Employees' Retirement System.
(4) "Noncontributory participating governmental unit" means a
participating governmental unit that did not elect to provide its employees with the
contributory pension benefit [under Title 23 of this article] OR THE ALTERNATE
CONTRIBUTORY PENSION SELECTION as provided in § 31-116 of this article.
(5) "Noncontributory system funding ratio" means the ratio
determined by the actuary as provided under subsection (e) of this section.
(6) "Participant funding ratio" means the ratio determined under
subsection (d) of this section.
(7) "Transition amount" means the amount determined by the actuary
as provided under subsection (i) of this section.
(d) (1) This subsection applies to a participating governmental unit that
elected to provide its employees with the contributory pension benefit [under Title 23
of this article] OR THE ALTERNATE CONTRIBUTORY PENSION SELECTION as
provided in § 31-116 of this article.
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-2119-
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