§ 29-405
109 words·~1 min read·
/md/state-personnel-and-pensions/29-405·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§29–405.
(a)This section applies only to an allowance received by a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree:
(1)of the Employees’ Retirement System or the Teachers’ Retirement System who elected Selection B (Limited cost–of–living adjustment); or
(2)who transferred to the Law Enforcement Officers’ Pension System from the Employees’ Retirement System and had elected Selection B (Limited cost–of–living adjustment).
(b)A cost–of–living adjustment payable under this section shall be a compound cost–of–living adjustment computed in accordance with § 29–402(d)(2) of this subtitle.
(c)A cost–of–living adjustment payable under this section shall be subject to a cost–of–living rate cap of 5%.