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§ 28-401. Normal service retirement allowance

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 28. Local Fire and Police System
Subtitle 4. Service Retirement Benefits (Refs & Annos)
MD Code, State Personnel and Pensions, § 28-401
§ 28-401. Normal service retirement allowance
Currentness
In general
(a)(1) Subject to paragraphs (2) and (3) of this subsection, a member may retire with a normal service retirement allowance if, on or before the date of retirement, the member:
(i) has at least 25 years of eligibility service;
(ii) is at least 62 years old; or
(iii) is at least 60 years old and has transferred to the Local Fire and Police System from the Employees' Retirement System.
(2) To retire under this subsection, a member shall complete and submit a written application to the Board of Trustees on the form that the Board of Trustees provides stating the date when the member desires to retire.
(3) A member may not retire before the first day of the month after employment ends.
Receipt of normal service retirement allowance
(b) Except as provided in subsections (c) and (d) of this section, on retirement under this section, a member is entitled to receive a normal service retirement allowance that equals the number of years of the member's creditable service multiplied by:
(1) 1% of the member's average final compensation that is not in excess of the Social Security integration level; and
(2) 1.5% of the member's average final compensation that exceeds the Social Security integration level.
Members not transferred and employers not contributing to Social Security
(c)(1) This subsection applies to a member:
(i) who has not transferred from the Employees' Retirement System; and
(ii) whose employer does not contribute to Social Security.
(2) On retirement under this section, a member is entitled to receive a normal service retirement allowance that equals the number of years of the member's creditable service multiplied by 1.5% of the member's average final compensation.
Transfers from Employees’ Retirement System
(d)(1) This subsection applies to a member who has transferred from the Employees' Retirement System.
(2) On retirement under this section, a member is entitled to receive a normal service retirement allowance that equals:
(i) 2% of the member's average final compensation multiplied by each year of the member's first 30 years of creditable service; and
(ii) 1% of the member's average final compensation multiplied by each year of creditable service in excess of 30 years.

Credits

Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994.
Formerly Art. 73B, § 10-217.
MD Code, State Personnel and Pensions, § 28-401, MD ST PERS & PENS § 28-401
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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