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§ 7-603. Pensions and retirement benefits system for employees

West's Annotated Code of MarylandTransportation

West's Annotated Code of Maryland
Transportation
Title 7. Mass Transit (Refs & Annos)
Subtitle 6. Labor Relations (Refs & Annos)
MD Code, Transportation, § 7-603
§ 7-603. Pensions and retirement benefits system for employees
Currentness
Application of section
(a) This section does not apply to a member of the Maryland Transit Administration Police Force who has the powers granted to a police officer under § 7-207 of this title.
Pension and retirement benefit systems for employees
(b) The Administration may establish and maintain a system of pensions and retirement benefits for any of its employees.
Terms and restrictions on admission to system and classifications
(c) The Administration may:
(1) Fix the terms of and restrictions on admission to the system and the classifications in it;
(2) Provide that individuals eligible for admission to the system are not eligible for admission to or eligible to receive any benefits from any other pension system, except Social Security benefits, if the other system is financed or funded, whether wholly or partially or directly or indirectly, by funds paid or appropriated by the Administration; and
(3) Provide a system of benefits payable to the beneficiaries and dependents of any participant in the system after the death of the participant, whether accidental or not and whether occurring in the performance of duty or not, subject to any exceptions, conditions, restrictions, and classifications that the Administration provides.
Eligibility for pension, retirement, or other benefit under multiple systems prohibited
(d) Unless the Administration determines otherwise, no employee of the Administration and no beneficiary or dependent of any employee of the Administration is eligible to receive any pension, retirement, or other benefit both under the Administration's system and under any other pension or retirement system established by an acquired transportation system or provided for under any collective bargaining agreement between the Administration and the authorized representatives of its employees.
Funding of pension system
(e) The pension system shall be financed or funded as the Administration determines economically feasible.

Credits

Added by Acts 1977, c. 13, § 2, eff. July 1, 1977. Amended by Acts 2005, c. 517, § 1, eff. July 1, 2005.
Formerly Art. 64B, § 37.
MD Code, Transportation, § 7-603, MD TRANS § 7-603
Current through legislation effective through April 25, 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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