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Ch. 337
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2007 Laws of Maryland
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TEACHERS' PENSION SYSTEM IN WHICH THE MEMBER IS CURRENTLY
ENROLLED, plus regular interest to the date of payment.
(2) A member may pay for service credit purchased under this section
at any time before retirement.
(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.
(c) (1) Except as provided in paragraph (2) of this subsection, a member
may purchase service credit for a period of employment as a member of the Employees'
Pension System or Teachers' Pension System if the member:
(i) has withdrawn the member's accumulated contributions
after a prior termination of membership; and
(ii) was subject to the contributory pension benefit [under
Subtitle 2, Part II of this title] OR THE ALTERNATE CONTRIBUTORY PENSION
SELECTION when the member previously terminated membership in the Employees'
Pension System or the Teachers' Pension System.
(2) A member may not purchase eligibility service credit that exceeds
the member's creditable service credit.
23-306.3.
(a) This section applies to a member of the Employees' Pension System or the
Teachers' Pension System who is subject to the contributory pension benefit [under
Subtitle 2, Part II of this title] OR THE ALTERNATE CONTRIBUTORY PENSION
SELECTION.
(b) A member WHO IS SUBJECT TO THE CONTRIBUTORY PENSION
BENEFIT is entitled to the eligibility service to which the member was entitled before
the separation from employment if the member:
(1) separated from employment on or before June 30, 1998;
(2) was not entitled to a vested allowance from the Employees' Pension
System or the Teachers' Pension System at the time of the separation from
employment;
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-2126-
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