1. A. This regulation applies to an effective date of retirement from July 1, 2017, until December 31, 2021.
2. B. General option factors and annuity values, which are established by the System’s actuary and are based on the actuarial assumptions adopted by the Board of Trustees as set forth in §F of this regulation, shall be applicable to the Correctional Officers’ Retirement System, Employees’ Pension System, Employees’ Retirement System, Judges’ Retirement System, Teachers’ Pension System, and Teachers’ Retirement System.
3. C. Law Enforcement option factors and annuity values, which are established by the System’s actuary and based on the actuarial assumptions adopted by the Board of Trustees as set forth in §F of this regulation, shall be applicable to the Law Enforcement Officers’ Pension System, Local Fire and Police System, and State Police Retirement System.
4. D. Legislative plan option factors and annuity values, which are established by the System’s actuary and based on the actuarial assumptions adopted by the Board of Trustees as set forth in §F of this regulation, shall be applicable to the Legislative Pension Plan.
5. E. Upon request, the Retirement Agency shall make the option factors and annuity values established by the System’s actuary available to a participant.

6. F. Actuarial Assumptions.

   	Interest Rate	Pre-reform COLA Rate	Post-reform COLA Rate	Mortality	Disabled Mortality	Unisex Mix
   General Option Factors and Annuity Values	5.85%	2.29%	1.49%	RP 2014 Combined Annuitant Mortality	RP 2014 Disabled Annuitant Mortality, Set Forward 1 / 3 Years for Males / Females	50% / 50% Male / Female
   Law Enforcement Option Factors and Annuity Values	5.85%	2.46%	1.49%	RP 2014 Combined Annuitant Mortality	RP 2014 Blue Collar Annuitant Mortality	85% / 15% Male / Female
   Legislative Plan Option Factors and Annuity Values	5.85%	3.20%	3.20%	RP 2014 Combined Annuitant Mortality	RP 2014 Disabled Annuitant Mortality, Set Forward 1 / 3 Years for Males / Females	75% / 25% Male / Female

Authority: State Personnel and Pensions Article, §§20-202, 21-108, 21-110, 21-125, and 21-402, 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Effective January 1, 1996, all of Title 22 was repealed and completely new regulations adopted.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 .03 amended effective June 13, 2011 (38:12 Md. R. 707)

Regulation .05 adopted effective September 6, 1999 (26:18 Md. R. 1377)

Chapter revised effective August 15, 2016 (43:16Md. R. 901)

Regulation .01B amended effective February 8, 2021 (48:3 Md. R. 94)

Regulation .03 amended effective February 8, 2021 (48:3 Md. R. 94)

Regulation .04 repealed and new Regulation .04 adopted effective February 8, 2021 (48:3 Md. R. 94)

Regulation .05B, C amended effective February 8, 2021 (48:3 Md. R. 94)