- A. Except as provided in Regulation .04 of this chapter, the Retirement Agency shall pay the allowance of a payee by electronic fund transfer to the institution designated by the payee as provided in this regulation.
- B. A payee shall properly complete the electronic fund transfer sign-up form provided by the Retirement Agency and file it with the Retirement Agency.
C. The Retirement Agency shall accept the electronic fund transfer sign-up form filed by a payee if:
- (1) The form has been properly completed in accordance with the form’s instructions;
- (2) The institution named by the payee on the form participates in the Automated Clearing House Network;
- (3) Not more than five payees share the same account number at the institution; and
- (4) The Retirement Agency deems the form acceptable.
- D. The Executive Director, or the Executive Director’s designee, may waive the requirement of §C(3) of this regulation upon written request by a payee and for good cause shown. Determination of a waiver request is not a contested case under State Government Article, §10-202, Annotated Code of Maryland, for which a hearing is required under COMAR 22.03.04.
- E. At any time while receiving an allowance, a payee may change the designated institution by properly completing a new electronic fund transfer sign-up form and submitting the form to the Retirement Agency.
- F. The last electronic fund transfer sign-up form filed by a payee and accepted by the Retirement Agency shall control the electronic fund transfer of the payee’s monthly allowance.
Authority: State Personnel and Pensions Article, §§21-110 and 21-501, Annotated Code of Maryland
Effective date: January 1, 1996 (22:26 Md. R. 2031)
Effective January 1, 1996, all of Title 22 was repealed and completely new regulations adopted. Codification and organization of the title were also completely changed. Consequently, the Administrative Histories of the revised Title 22 do not reflect regulatory activity before January 1, 1996. Refer to the old version of Title 22 or contact the Maryland State Archives for assistance.
Regulation .01 repealed effective August 4, 2003 (30:15 Md. R. 993)
Regulation .03B amended effective October 15, 2012 (39:20 Md. R. 1309)
Regulation .04 amended effective March 10, 1997 (24:5 Md. R. 413)
Regulation .04C amended effective October 15, 2012 (39:20 Md. R. 1309)
Regulation .04C, D amended effective December 11, 2003 (30:24 Md. R. 1745)
Chapter revised effective November 23, 2015 (42:23 Md. R. 1435)
Chapter revised effective October 7, 2019 (46:20 Md. R. 847)