Maryland State Personnel and Pensions Section 28-307

CAUTION: READ FULL TEXT OF SECTION FOR SPECIAL NOTE

      (a)      (1)      In the year of retirement, a member may purchase service credit for eligibility service of up to 10 years for periods of employment for which the member:

                  (i)      would have been entitled to purchase service credit under the Employees' Pension System; and

                  (ii)      is not otherwise entitled to service credit under the Local Fire and Police System.

            (2)      To purchase service credit under this section, a member must:

                  (i)      complete a claim for the service credit and file it with the Board of Trustees on the form that the Board of Trustees provides; and

                  (ii)      pay to the Board of Trustees an amount equal to the annuity reserve and pension reserve required to fund the additional allowance.

            (3)      A member may pay the amount required by paragraph (2) of this subsection on an installment basis by contributing at least 2% of earnable compensation per year with the appropriate final adjustments being made in the year the member retires.

      (b)      (1)      A member may purchase credit for eligibility service for previous service in a position described in § 23-204(a) of this article.

            (2)      To purchase the service credit, the member must pay, in a single payment, the contributions, with interest, that the Board of Trustees considers appropriate.

** SPECIAL NOTE: EFFECTIVE - JANUARY 1, 2006 - CHAPTER 493 - 2005 **

      (a)      (1)      In the year of retirement, a member may purchase service credit for eligibility service of up to 10 years for periods of employment for which the member:

                  (i)      would have been entitled to purchase service credit under the Employees' Pension System; and

                  (ii)      is not otherwise entitled to service credit under the Local Fire and Police System.

            (2)      To purchase service credit under this section, a member must:

                  (i)      complete a claim for the service credit and file it with the Board of Trustees on the form that the Board of Trustees provides; and

                  (ii)      pay to the Board of Trustees an amount equal to the annuity reserve and pension reserve required to fund the additional allowance.

      (b)      (1)      A member may purchase credit for eligibility service for previous service in a position described in § 23-204(a) of this article.

            (2)      To purchase the service credit, the member must pay, in a single payment, the contributions, with interest, that the Board of Trustees considers appropriate.