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2007 Laws of Maryland
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Ch. 337
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THE EMPLOYEES' RETIREMENT SYSTEM OR TEACHERS' RETIREMENT SYSTEM
AFTER APRIL 1, 1998.
[(c)] (D) (1) A member may [receive] COMBINE THE MEMBER'S PRIOR
credit for eligibility service [by completing] WITH THE MEMBER'S CURRENT
SERVICE under this section IF THE MEMBER:
(I) COMPLETES a claim for the service credit and [filing]
FILES it with the Board of Trustees on the form that the Board of Trustees provides at
any time before retirement; AND
(II) DEPOSITS INTO THE ANNUITY SAVINGS FUND THE
MEMBER CONTRIBUTIONS, IF ANY, THAT WOULD HAVE BEEN DUE IF THE
MEMBER HAD EARNED THE PRIOR SERVICE IN THE SAME PART OF THE
EMPLOYEES' PENSION SYSTEM OR TEACHERS' PENSION SYSTEM IN WHICH THE
MEMBER IS CURRENTLY ENROLLED, PLUS REGULAR INTEREST ON THE
CONTRIBUTIONS.
(2) When a member [receives] COMBINES credit for eligibility service
under [subsection (b) of] this section [from another system], the member has no
further rights in the [other] PRIOR system.
(3) SUBJECT TO § 414(H)(2) OF THE INTERNAL REVENUE CODE,
AN INDIVIDUAL'S ACCUMULATED CONTRIBUTIONS IN EXCESS OF THE AMOUNT
DETERMINED UNDER PARAGRAPH (1) OF THIS SUBSECTION SHALL BE
REFUNDED ON REQUEST.
[(d)] (E) If a member withdrew the member's accumulated contributions
after the prior separation from employment, the member shall:
(1) redeposit any of the amounts withdrawn with regular interest to
the date of redeposit; or
(2) on retirement, the individual's retirement allowance shall be
reduced by the actuarial equivalent of the accumulated contributions withdrawn with
regular interest to the date of retirement.
23-304.
A member is entitled to eligibility service that equals:
(1) the member's service credit transferred from a retirement or
pension system under Title 37 of this article;
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- 2124 -
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