| 1 | 1 | | |
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| 2 | 2 | | |
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| 3 | 3 | | EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW. |
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| 4 | 4 | | [Brackets] indicate matter deleted from existing law. |
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| 5 | 5 | | *sb0938* |
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| 6 | 6 | | |
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| 7 | 7 | | SENATE BILL 938 |
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| 8 | 8 | | P6 2lr3193 |
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| 9 | 9 | | |
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| 10 | 10 | | By: Senator Eckardt |
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| 11 | 11 | | Introduced and read first time: February 13, 2022 |
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| 12 | 12 | | Assigned to: Rules |
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| 13 | 13 | | |
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| 14 | 14 | | A BILL ENTITLED |
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| 15 | 15 | | |
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| 16 | 16 | | AN ACT concerning 1 |
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| 17 | 17 | | |
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| 18 | 18 | | Employees’ Pension System – Purchase of Service 2 |
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| 19 | 19 | | |
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| 20 | 20 | | FOR the purpose of allowing certain former members of the Employees’ Pension System to 3 |
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| 21 | 21 | | purchase credit for eligibility service for certain employment with the State for which 4 |
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| 22 | 22 | | the former members are not entitled to credit; providing for the manner in which to 5 |
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| 23 | 23 | | purchase the service credit; and generally relating to purchasing service credit in the 6 |
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| 24 | 24 | | Employees’ Pension System. 7 |
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| 25 | 25 | | |
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| 26 | 26 | | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 8 |
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| 27 | 27 | | That: 9 |
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| 28 | 28 | | |
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| 29 | 29 | | (a) This section applies to a former member of the Employees’ Pension System 10 |
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| 30 | 30 | | who: 11 |
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| 31 | 31 | | |
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| 32 | 32 | | (1) is subject to the Alternate Contributory Pension Selection; and 12 |
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| 33 | 33 | | |
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| 34 | 34 | | (2) is a former employee of the Maryland Department of Transportation 13 |
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| 35 | 35 | | who began membership in the Employees’ Pension System through employment with the 14 |
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| 36 | 36 | | Maryland Department of Transportation in December 1991 and ceased employment with 15 |
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| 37 | 37 | | the Maryland Department of Transportation in March 2009. 16 |
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| 38 | 38 | | |
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| 39 | 39 | | (b) (1) In the year of retirement, a former member of the Employees’ Pension 17 |
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| 40 | 40 | | System may purchase credit for eligibility service for periods of employment with the State 18 |
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| 41 | 41 | | described in paragraph (3) of this subsection for which the former member is not otherwise 19 |
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| 42 | 42 | | entitled to service credit. 20 |
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| 43 | 43 | | |
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| 44 | 44 | | (2) To purchase service credit under this subsection, a member must: 21 |
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| 45 | 45 | | |
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| 46 | 46 | | (i) complete a claim for the service credit and file it with the Board 22 |
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| 47 | 47 | | of Trustees for the State Retirement and Pension System on the form that the Board of 23 |
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| 48 | 48 | | Trustees provides; and 24 2 SENATE BILL 938 |
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| 49 | 49 | | |
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| 50 | 50 | | |
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| 51 | 51 | | |
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| 52 | 52 | | (ii) pay to the Board of Trustees an amount equal to one–half of the 1 |
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| 53 | 53 | | annuity reserve and one–half of the pension reserve required to fund the additional 2 |
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| 54 | 54 | | allowance. 3 |
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| 55 | 55 | | |
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| 56 | 56 | | (3) A member may purchase service credit under this subsection only for 4 |
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| 57 | 57 | | contractual employment with the Maryland Department of Transportation beginning in 5 |
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| 58 | 58 | | April 1984 and ending in December 1991. 6 |
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| 59 | 59 | | |
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| 60 | 60 | | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 7 |
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| 61 | 61 | | 1, 2022. It shall remain effective for a period of 1 year and, at the end of June 30, 2023, this 8 |
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| 62 | 62 | | Act, with no further action required by the General Assembly, shall be abrogated and of no 9 |
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| 63 | 63 | | further force and effect. 10 |
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| 64 | 64 | | |
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