§ 37-201

Maryland § 37-201

• Jurisdiction: Maryland
• Article gsp: State Personnel and Pensions
• Title: 37

Text

(a) Subject to subsection (b) of this section, this title applies to transfers from a State or local retirement or pension system to another State or local retirement or pension system only if:

(1) each system is operated on an actuarial basis; and

(2) under each system contributions that are computed to be sufficient to provide the reserves needed to cover the benefits payable on account of the system’s members are made during the employment of members.

(b) This title does not apply to:

(1) a transfer to the Judges’ Retirement System of the State of Maryland;

(2) a transfer to or from the Legislative Pension Plan of the State of Maryland except to the extent provided by the Joint Resolution submitted to the General Assembly by the General Assembly Compensation Commission under Article III, § 15 of the Maryland Constitution;

(3) a transfer from the Employees’ Retirement System of the State of Maryland to the Employees’ Pension System of the State of Maryland on or before December 31, 2004;

(4) a transfer from the Teachers’ Retirement System of the State of Maryland to the Teachers’ Pension System of the State of Maryland on or before December 31, 2004;

(5) a transfer between the Employees’ Retirement System of the State of Maryland and the Teachers’ Retirement System of the State of Maryland;

(6) a transfer between the Employees’ Pension System of the State of Maryland and the Teachers’ Pension System of the State of Maryland if the member:

(i) is subject to the noncontributory pension benefit in both the previous and current system;

(ii) is subject to the contributory pension benefit under Title 23, Subtitle 2, Part II of this article in both the previous and current system; or

(iii) is subject to the Alternate Contributory Pension Selection under Title 23, Subtitle 2, Part III of this article in both the previous and current system; or

(7) a transfer between the Correctional Officers’ Retirement System or the Employees’ Pension System to the Law Enforcement Officers’ Pension System under §§ 26–203.1(e) and 26–203.3 of this article.