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§ 29-409. Allowances relating to retirees of Employees’ Retirement or Employees’ Pension System...

West's Annotated Code of MarylandState Personnel and PensionsEffective: July 1, 2013

West's Annotated Code of Maryland
State Personnel and Pensions (Refs & Annos)
Division II. Pensions [Titles 20-34] (Refs & Annos)
Title 29. Benefits Other than Service Retirement Benefits
Subtitle 4. Cost-of-Living Adjustments (Refs & Annos)
Effective: July 1, 2013
MD Code, State Personnel and Pensions, § 29-409
§ 29-409. Allowances relating to retirees of Employees’ Retirement or Employees’ Pension Systems
Currentness
Application of section
(a) This section applies only to a retiree of the Employees' Retirement System or Employees' Pension System who:
(1) retired from the Employees' Retirement System or Employees' Pension System on or before June 30, 2009;
(2) before retirement was an employee of the Maryland School for the Deaf; and
(3) before retirement, as an employee of the Maryland School for the Deaf, was a 10-month employee incorrectly classified as a 12-month employee.
Suspension of annual cost-of-living adjustments
(b)(1) If a retiree is receiving a benefit that differs from the benefit the retiree is entitled to receive, the Board of Trustees shall, beginning July 1, 2010, and each subsequent July 1, suspend any annual cost-of-living adjustment the retiree may otherwise be entitled to receive under this subtitle.
(2) Beginning July 1, 2010, and each subsequent July 1, any adjustment to the retiree's annual retirement allowance described under paragraph (1) of this subsection shall be calculated using the current retirement allowance the retiree is entitled to receive and not the current retirement allowance the retiree is receiving.
(3) The Board of Trustees shall suspend any annual cost-of-living adjustment otherwise payable under this subsection until the total amount of retirement allowance the retiree is entitled to receive, including any suspended annual cost-of-living adjustment, equals or exceeds the total amount of retirement allowance the retiree is receiving on July 1, 2010.
(4) When the total amount of retirement allowance the retiree is entitled to receive, including any suspended annual cost-of-living adjustments, equals or exceeds the total amount of retirement allowance the retiree is receiving on July 1, 2010, the Board of Trustees shall resume adjusting the retiree's annual allowance on July 1 of each year in accordance with this subtitle, so that the amount of the allowance, including any cost-of-living adjustments, equals the total allowance the retiree is entitled to receive.
Death of retiree before receipt of total amount of retirement allowance
(c) If a retiree dies before the total amount of retirement allowance the retiree was entitled to receive, including any suspended annual cost-of-living adjustments, equals the total amount of retirement allowance the retiree was receiving on July 1, 2010, and the retiree has selected an optional form of allowance under Title 21, Subtitle 4 of this article, the deceased retiree's beneficiary shall receive a benefit calculated on the retirement allowance the deceased retiree was entitled to receive at the time of the retiree's death and not what the retiree was receiving at the time of the retiree's death.

Credits

Added by Acts 2013, c. 550, § 2, eff. July 1, 2013; Acts 2013, c. 551, § 2, eff. July 1, 2013.
MD Code, State Personnel and Pensions, § 29-409, MD ST PERS & PENS § 29-409
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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