§ 22-214

Maryland § 22-214

• Jurisdiction: Maryland
• Article gsp: State Personnel and Pensions
• Title: 22

Text

(a) (1) This subsection applies only to a member who is subject to Selection A (Additional member contributions).

(2) For a member whose membership started on or before June 30, 1973, the contribution rate as a percent of a member's earnable compensation is the lesser of:

(i) 2% plus the contribution rate adopted by the Board of Trustees and in effect when membership began; or

(ii) 7%.

(3) For a member whose membership started on or after July 1, 1973, the contribution rate is 7% of a member's earnable compensation.

(4) For a member who under § 22-308(b)(2) of this title elects to receive full-time service credit for regular part-time employment, the contribution rate is 7% of the compensation the member would have earned had the member been a full-time employee.

(b) (1) This subsection applies to a member who is subject to Selection B (Limited cost-of-living adjustment).

(2) For a member whose membership started on or before June 30, 1973, the contribution rate as a percent of a member's earnable compensation is the lesser of:

(i) the contribution rate adopted by the Board of Trustees and in effect when membership began; or

(ii) 5%.

(3) For a member whose membership started on or after July 1, 1973, the contribution rate is 5% of a member's earnable compensation.

(4) For a member who elects under § 22-308(b)(2) of this title to receive full-time service credit for regular part-time employment, the contribution rate is 5% of the compensation the member would have earned had the member been a full-time employee.

(c) (1) This subsection applies to a member who is subject to Selection C (Combination formula).

(2) A member’s contribution rate is as provided in § 23-212 of this article.