§ 29-407. Allowances relating to members who made Selection C elections
West's Annotated Code of MarylandState Personnel and PensionsEffective: July 1, 2013
Effective: July 1, 2013
MD Code, State Personnel and Pensions, § 29-407
§ 29-407. Allowances relating to members who made Selection C elections
(a) This section applies only to an allowance received by a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree of the Employees' Retirement System or the Teachers' Retirement System who elected Selection C (Combination formula).
(b) Except as provided in subsection (c) or (d) of this section, the Board of Trustees shall adjust an allowance subject to this section:
(c) For a member, former member, or retiree who was subject to Selection B (Limited cost-of-living adjustment) before electing Selection C (Combination formula), the Board of Trustees shall adjust an allowance subject to this section:
Allowances by members who governmental units not electing benefits or Alternate Contributory Pension Selection
(d) If an allowance is received by a former member, retiree, or a surviving beneficiary of a deceased member, former member, or retiree who, while a member, was an employee of a participating governmental unit that has not elected the contributory pension benefit or the Alternate Contributory Pension Selection for its members in accordance with § 31-116 or § 31-116.1 of this article, or a former participating governmental unit, other than Frederick County, that has withdrawn before July 1, 1998, the Board of Trustees shall adjust the allowance for creditable service on or after the effective date of selection as provided in § 29-404 of this subtitle.
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, § 29-407, MD ST PERS & PENS § 29-407
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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