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2007 Laws of Maryland
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Ch. 337
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(c) (1) An individual may transfer service credit from THE STATE
ALTERNATE CONTRIBUTORY EMPLOYEES' PENSION SYSTEM, THE STATE
ALTERNATE CONTRIBUTORY TEACHERS' PENSION SYSTEM, the State
Contributory Employees' Pension System, the State Contributory Law Enforcement
Officers' Pension System, or the State Contributory Teachers' Pension System to a
noncontributory system if, within 1 year after becoming a member of the
noncontributory system, the individual completes a claim for the service credit and
files it with the administrator of the noncontributory system on a form that the
administrator provides.
(2) [The State Contributory Employees' Pension System, the State
Contributory Law Enforcement Officers' Pension System, or the State Contributory
Teachers' Pension System] SUBJECT TO § 414(H) OF THE INTERNAL REVENUE
CODE, THE PREVIOUS SYSTEM shall refund the individual's total accumulated
contributions to the individual on request.
(d) (1) An individual may transfer service credit from THE STATE
ALTERNATE CONTRIBUTORY EMPLOYEES' PENSION SYSTEM, THE STATE
ALTERNATE CONTRIBUTORY TEACHERS' PENSION SYSTEM, the State
Contributory Employees' Pension System, the State Contributory Law Enforcement
Officers' Pension System, or the State Contributory Teachers' Pension System to a
contributory system if, within 1 year after becoming a member of the contributory
system, the individual:
(i) completes a claim for the service credit and files it with the
administrator of the contributory system on a form that the administrator provides;
and
(ii) deposits in the annuity savings fund or other corresponding
fund of the contributory system the sum of:
1. the total accumulated contributions to the individual's
credit in the annuity savings fund of the [State Contributory Employees' Pension
System, the State Contributory Law Enforcement Officers' Pension System, or the
State Contributory Teachers' Pension System] PREVIOUS SYSTEM;
2. the difference, if any, between the member
contributions at the rate provided for in the contributory system, including interest on
those contributions, and the total accumulated contributions to the individual's credit
in the annuity savings fund of the [State Contributory Employees' Pension System,
the State Contributory Law Enforcement Officers' Pension System, or the State
Contributory Teachers' Pension System] PREVIOUS SYSTEM; and
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