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§ 25-305. Purchase of service credit by members

West's Annotated Code of MarylandState Personnel and Pensions

West's Annotated Code of Maryland
State Personnel and Pensions (Refs & Annos)
Division II. Pensions [Titles 20-34] (Refs & Annos)
Title 25. Correctional Officers' Retirement System
Subtitle 3. Service Credit (Refs & Annos)
MD Code, State Personnel and Pensions, § 25-305
§ 25-305. Purchase of service credit by members
Currentness
In general
(a) A member may purchase service credit as provided in subsection (b) of this section for periods of employment for which the member:
(1)(i) would have been entitled to purchase service credit under the Employees' Retirement System; and
(ii) is not otherwise entitled to service credit under the Correctional Officers' Retirement System; or
(2) was not vested in the Employees' Pension System.
Claim and filing for service credit
(b)(1) A member who purchases service credit under this section shall:
(i) complete a claim for the service credit and file it with the Board of Trustees on a form that the Board of Trustees provides; and
(ii) pay to the Board of Trustees in a single payment the member contributions the member would have made for the period of employment for which service credit is being purchased 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.

Credits

Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2006, c. 618, § 1, eff. July 1, 2006.
Formerly Art. 73B, § 7-303.
MD Code, State Personnel and Pensions, § 25-305, MD ST PERS & PENS § 25-305
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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