§ 23-401
805 words·~4 min read·
/md/state-personnel-and-pensions/23-401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§23–401.
(a)Except as provided in subsection
(f)of this section, a member may retire with a normal service retirement allowance if:
(1)the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire; and
(2)on or before the date of retirement, the member:
(i)has at least 30 years of eligibility service;
(ii)has a combined total of at least 30 years of eligibility service from the Employees’ Pension System, the Teachers’ Pension System, the Employees’ Retirement System, or the Teachers’ Retirement System; or
(iii)has attained the age and the years of eligibility service as follows:
Age Years of Eligibility
Service
62 with 5
63 with 4
64 with 3
65 or more with 2
(b)Except as provided in subsections (c), (d), (e), (f), and
(g)of this section, on retirement under this section, a member is entitled to receive a normal service retirement allowance that equals the number of years of the member’s creditable service multiplied by:
(1)0.8% of the member’s average final compensation that is not in excess of the Social Security integration level; and
(2)1.5% of the member’s average final compensation that exceeds the Social Security integration level.
(c)Except as provided in subsections
(e)and
(g)of this section, on retirement under this section, a member who is subject to the contributory pension benefit under Subtitle 2, Part II of this title is entitled to receive a normal service retirement allowance that equals the sum of:
(1)the number of years of the member’s creditable service on or after July 1, 1998 multiplied by 1.4% of the member’s average final compensation; and
(2)the greater of:
(i)the number of years of the member’s creditable service on or before June 30, 1998 multiplied by 1.2% of the member’s average final compensation; or
(ii)the number of years of the member’s creditable service on or before June 30, 1998 multiplied by:
1. 0.8% of the member’s average final compensation that is not in excess of the Social Security integration level; and
2. 1.5% of the member’s average final compensation that exceeds the Social Security integration level.
(d)Except as provided in subsections
(e)and
(g)of this section, a member who is subject to the Alternate Contributory Pension Selection under Subtitle 2, Part III of this title is entitled to receive a normal service retirement allowance that equals the sum of:
(1)the greater of:
(i)the number of years of the member’s creditable service on or before June 30, 1998 multiplied by 1.2% of the member’s average final compensation; or
(ii)the number of years of the member’s creditable service on or before June 30, 1998 multiplied by:
1. 0.8% of the member’s average final compensation that is not in excess of the Social Security integration level; and
2. 1.5% of the member’s average final compensation that exceeds the Social Security integration level; and
(2)the number of years of the member’s creditable service on or after July 1, 1998 multiplied by 1.8% of the member’s average final compensation.
(1)This subsection applies only to a member who has a combined total of 30 years of eligibility service as provided in subsection (a)(2)(ii) of this section.
(2)A member is entitled to receive a normal service retirement allowance that equals:
(i)an allowance based on the creditable service the member earned in the Employees’ Pension System;
(ii)an allowance based on the creditable service the member earned in the Employees’ Retirement System;
(iii)an allowance based on the creditable service the member earned in the Teachers’ Pension System; plus
(iv)an allowance based on the creditable service the member earned in the Teachers’ Retirement System.
(1)A member who begins membership on or after July 1, 2011, may retire with a normal service retirement allowance if:
(i)the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire; and
(ii)on or before the date of retirement, the member:
1. has at least 90 years of combined age and years of eligibility service; or
2. is at least 65 years old and has at least 10 years of eligibility service.
(2)Except as provided in subsection
(g)of this section, a member who is subject to the reformed contributory pension benefit under Subtitle 2, Part IV of this title is entitled to receive a normal service retirement that equals the number of years of the member’s creditable service multiplied by 1.5% of the member’s average final compensation.
(g)On retirement under this section, if a member’s annuity is greater than the member’s normal service retirement allowance calculated under this section, the member’s normal service retirement allowance shall equal the member’s annuity.