Maryland SB239 alters the Correctional Officers' Retirement System to allow redeposit of withdrawn contributions with interest and service credit.
Maryland SB239 amends the Correctional Officers' Retirement System to allow members who previously terminated membership and withdrew contributions from the Correctional Officers' Retirement System, Employees' Retirement System, Employees' Pension System, Teachers' Retirement System, or Teachers' Pension System to redeposit those contributions. Upon redeposit, the member will receive a single payment of the withdrawn contributions plus regular interest to the date of redeposit. Additionally, the member may receive service credit for the period of employment during the previous membership.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.