Md. Code Ann., State Pers. & Pens. § 20-209 – Forfeiture of benefits | Midpage

Collections
Maryland Code

State Personnel and Pensions

§ 20-209

Md. Code Ann., State Pers. & Pens. § 20-209

Forfeiture of benefits

Effective Jul 1, 2009Added by Acts 2009, c. 561, § 1, eff. July 1, 2009.State of Maryland

(a) In conformity with § 401(a)(8) of the Internal Revenue Code, any forfeiture of benefits by a member or former member of the several systems may not be used by the Board of Trustees to pay benefit increases.
(b) Any forfeiture of benefits by a member shall be used to reduce employer contributions.

Added by Acts 2009, c. 561, § 1, eff. July 1, 2009.