Md. Code Ann., State Pers. & Pens. § 25-305
Purchase of service credit by members
Effective Jul 1, 2006Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2006, c. 618, § 1, eff. July 1, 2006.State of Maryland
(a) A member may purchase service credit as provided in subsection (b) of this section for periods of employment for which the member:
(1)
- (i) would have been entitled to purchase service credit under the Employees' Retirement System; and
- (ii) is not otherwise entitled to service credit under the Correctional Officers' Retirement System; or
- (2) was not vested in the Employees' Pension System.
(b)
(1) A member who purchases service credit under this section shall:
- (i) complete a claim for the service credit and file it with the Board of Trustees on a form that the Board of Trustees provides; and
- (ii) pay to the Board of Trustees in a single payment the member contributions the member would have made for the period of employment for which service credit is being purchased plus regular interest to the date of payment.
- (2) A member may pay for service credit purchased under this section at any time before retirement.
Added by Acts 1994, c. 6, § 2, eff. Oct. 1, 1994. Amended by Acts 2006, c. 618, § 1, eff. July 1, 2006.
Formerly Art. 73B, § 7-303.