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§ 25-401. Normal service retirement

West's Annotated Code of MarylandState Personnel and PensionsEffective: July 1, 2022

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 4. Service Retirement Benefits (Refs & Annos)
Effective: July 1, 2022
MD Code, State Personnel and Pensions, § 25-401
§ 25-401. Normal service retirement
Currentness
In general
(a) A member may retire with a normal service retirement allowance if:
(1) on or before the date of retirement, the member:
(i) has at least 20 years of eligibility service;
(ii) 1. is a correctional case management specialist, supervisor, or manager on or before June 30, 2016;
2. is vested in the Correctional Officers' Retirement System; and
3. has a combined total of at least 20 years of eligibility service from:
A. the Correctional Officers' Retirement System and the Employees' Retirement System; or
B. the Correctional Officers' Retirement System and the Employees' Pension System;
(iii) 1. is serving in a position specified in:
A. § 25-201(a)(8) or (9) of this title on or before June 30, 2017;
B. § 25-201(a)(10) or (11) of this title on or before June 30, 2018; or
C. § 25-201(a)(12) of this title on or before June 30, 2022;
2. is vested in the Correctional Officers' Retirement System; and
3. has a combined total of at least 20 years of eligibility service from:
A. the Correctional Officers' Retirement System and the Employees' Retirement System; or
B. the Correctional Officers' Retirement System and the Employees' Pension System; or
(iv) is at least 55 years old and has:
1. at least 5 years of eligibility service credit, if the member is a member on or before June 30, 2011; or
2. at least 10 years of eligibility service credit, if the member becomes a member on or after July 1, 2011; and
(2) the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire.
Calculation of normal service retirement allowance
(b)(1) Except as provided in paragraph (2) of this subsection, on retirement under this section, a member is entitled to receive a normal service retirement allowance that equals one fifty-fifth of the member's average final compensation multiplied by the number of years of creditable service.
(2) On retirement under this section, if a member's annuity is greater than the member's normal service retirement allowance calculated under paragraph (1) of this subsection, the member's normal service retirement allowance shall equal the member's annuity.
Calculation of allowance for correctional case management specialist, supervisor, or manager
(c)(1) This subsection applies only to:
(i) a correctional case management specialist, supervisor, or manager who has a combined total of 20 years of eligibility service as provided in subsection (a)(1)(ii) of this section; or
(ii) a member serving in a position specified in § 25-201(a)(8), (9), (10), (11), or (12) of this title who has a combined total of 20 years of eligibility service as provided in subsection (a)(1)(iii) of this section.
(2) A member is entitled to receive a normal service retirement allowance that equals an allowance based on the creditable service the member has in the Correctional Officers' Retirement System.

Credits

Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2000, c. 370, § 1, eff. July 1, 2000; Acts 2007, c. 334, § 1, eff. July 1, 2007; Acts 2008, c. 408, § 1, eff. July 1, 2008; Acts 2008, c. 409, § 1, eff. July 1, 2008; Acts 2014, c. 188, § 1, eff. July 1, 2014; Acts 2015, c. 11, § 1, eff. July 1, 2015; Acts 2016, c. 211, § 1, eff. July 1, 2016; Acts 2016, c. 218, § 1, eff. July 1, 2016; Acts 2016, c. 219, § 1, eff. July 1, 2016; Acts 2017, c. 62, § 6; Acts 2017, c. 688, § 1, eff. July 1, 2017; Acts 2017, c. 689, § 1, eff. July 1, 2017; Acts 2017, c. 690, § 1, eff. July 1, 2017; Acts 2018, c. 579, § 1, eff. July 1, 2018; Acts 2018, c. 580, § 1, eff. July 1, 2018; Acts 2020, c. 387, § 1, eff. July 1, 2020; Acts 2020, c. 388, § 1, eff. July 1, 2020; Acts 2022, c. 147, § 1, eff. July 1, 2022.
Formerly Art. 73B, § 7-401.
MD Code, State Personnel and Pensions, § 25-401, MD ST PERS & PENS § 25-401
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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