§ 26-203.4

Maryland § 26-203.4

• Jurisdiction: Maryland
• Article gsp: State Personnel and Pensions
• Title: 26

Text

(a) This section applies to an employee of the Warrant Apprehension Unit, formerly of the Division of Parole and Probation in the Department of Public Safety and Correctional Services, who:

(1) had the powers granted to a peace officer or police officer under the former § 6–106 of the Correctional Services Article; and

(2) transferred to the Law Enforcement Officers’ Pension System on or before December 31, 2015.

(b) A member shall deposit in the annuity savings fund of the Law Enforcement Officers’ Pension System:

(1) contributions at the rates specified under § 26–204 of this subtitle; and

(2) regular interest on the contributions required under item (1) of this subsection at the rate of 5% per year compounded annually.

(c) (1) The Board of Trustees shall transfer a member’s accumulated contributions from the annuity savings fund of the Employees’ Pension System to the annuity savings fund of the Law Enforcement Officers’ Pension System.

(2) The amount a member is required to deposit under subsection (b) of this section shall be reduced by the amount of accumulated contributions transferred under this subsection.