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§ 20-209. Forfeiture of benefits

West's Annotated Code of MarylandState Personnel and PensionsEffective: July 1, 2009

West's Annotated Code of Maryland
State Personnel and Pensions (Refs & Annos)
Division II. Pensions [Titles 20-34] (Refs & Annos)
Title 20. Definitions and General Provisions
Subtitle 2. General Provisions (Refs & Annos)
Effective: July 1, 2009
MD Code, State Personnel and Pensions, § 20-209
§ 20-209. Forfeiture of benefits
Currentness
Forfeiture of benefits not used to pay benefit increases
(a) In conformity with § 401(a)(8) of the Internal Revenue Code, any forfeiture of benefits by a member or former member of the several systems may not be used by the Board of Trustees to pay benefit increases.
Forfeiture of benefits used to reduce employer contributions
(b) Any forfeiture of benefits by a member shall be used to reduce employer contributions.

Credits

Added by Acts 2009, c. 561, § 1, eff. July 1, 2009.
MD Code, State Personnel and Pensions, § 20-209, MD ST PERS & PENS § 20-209
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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