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<section article="gsp" article_name="State Personnel and Pensions" number="29-303" title_number="29" title_name="Benefits Other Than Service Retirement Benefits" subtitle_number="3" subtitle_name="Deferred Vested Benefits">
  <level label="a">
    <text>This section applies only to members of:</text>
    <level label="1">
      <text>the Employees’ Pension System;</text>
    </level>
    <level label="2">
      <text>the Local Fire and Police System;</text>
    </level>
    <level label="3">
      <text>the Law Enforcement Officers’ Pension System; or</text>
    </level>
    <level label="4">
      <text>the Teachers’ Pension System.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>This subsection applies to an individual who is a member on or before June 30, 2011.</text>
    </level>
    <level label="2">
      <text>A member is eligible to receive a vested allowance if:</text>
      <level label="i">
        <text>the member separated from employment other than by death or retirement; and</text>
      </level>
      <level label="ii">
        <text>the member has at least 5 years of eligibility service.</text>
      </level>
    </level>
  </level>
  <level label="b–1">
    <level label="1">
      <text>This subsection applies to an individual who becomes a member on or after July 1, 2011.</text>
    </level>
    <level label="2">
      <text>A member is eligible to receive a vested allowance if:</text>
      <level label="i">
        <text>the member separated from employment other than by death or retirement; and</text>
      </level>
      <level label="ii">
        <text>the member has at least 10 years of eligibility service.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>Except as provided in subsections (e) through (i) of this section, a vested allowance:</text>
      <level label="i">
        <text>is a deferred allowance that begins at normal retirement age;</text>
      </level>
      <level label="ii">
        <text>except as provided in paragraph (2) of this subsection, is computed as a normal service retirement allowance on the basis of the member’s average final compensation and eligibility service at separation from employment; and</text>
      </level>
      <level label="iii">
        <text>may be paid in one of the optional forms of allowances under § 21–403 of this article.</text>
      </level>
    </level>
    <level label="2">
      <text>On retirement under this subsection, if a former member’s annuity is greater than the former member’s normal service retirement allowance calculated under paragraph (1) of this subsection, the former member’s normal service retirement allowance shall equal the former member’s annuity.</text>
    </level>
  </level>
  <level label="d">
    <text>If a member of the Employees’ Pension System or the Teachers’ Pension System separated from employment on or before June 30, 1990, unused sick leave reported by the member’s employer at the time of separation from employment is creditable service for computing the vested allowance.</text>
  </level>
  <level label="e">
    <text>Except as provided in subsection (f) of this section, a former member of the Employees’ Pension System or the Teachers’ Pension System who has separated from employment before the age of 55 with at least 15 years of eligibility service is eligible to receive a vested allowance that:</text>
    <level label="1">
      <text>begins on the first day of the month following the member’s 55th birthday; and</text>
    </level>
    <level label="2">
      <text>equals the reduced allowance computed under § 23–402 of this article.</text>
    </level>
  </level>
  <level label="f">
    <level label="1">
      <text>The vested allowance of a former member of the Employees’ Pension System or the Teachers’ Pension System who separates from employment on or before June 30, 1998:</text>
      <level label="i">
        <text>is a deferred allowance that begins at normal retirement age; and</text>
      </level>
      <level label="ii">
        <text>except as provided in paragraph (2)(ii) of this subsection, is computed on the basis of the member’s average final compensation and eligibility service at separation from employment.</text>
      </level>
    </level>
    <level label="2">
      <level label="i">
        <text>Except as provided in subparagraph (ii) of this paragraph, the vested allowance described under paragraph (1) of this subsection shall equal the number of years of the member’s creditable service multiplied by:</text>
        <level label="1">
          <level label="0">
            <text>8% of the member’s average final compensation that is not in excess of the Social Security integration level; and</text>
          </level>
        </level>
        <level label="2">
          <level label="1">
            <text>5% of the member’s average final compensation that exceeds the Social Security integration level.</text>
          </level>
        </level>
      </level>
      <level label="ii">
        <text>If the former member’s annuity is greater than the former member’s vested allowance calculated under subparagraph (i) of this paragraph, the former member’s vested allowance shall equal the former member’s annuity.</text>
      </level>
      <level label="iii">
        <text>The former member’s vested allowance may be paid in one of the optional forms of allowances under § 21–403 of this article.</text>
      </level>
    </level>
    <level label="3">
      <text>A former member of the Employees’ Pension System or the Teachers’ Pension System who has separated from employment on or before June 30, 1998 and before the age of 55 with at least 15 years of eligibility service is eligible to receive a vested allowance that:</text>
      <level label="i">
        <text>begins on the first day of the month following the member’s 55th birthday; and</text>
      </level>
      <level label="ii">
        <text>equals the allowance under paragraph (2) of this subsection, reduced by 0.5% for each month that the member’s early retirement date precedes the date the member will be 62 years old.</text>
      </level>
    </level>
  </level>
  <level label="g">
    <level label="1">
      <text>Except as provided in subsection (h) of this section and subject to subsection (i) of this section, the vested allowance of a former member of the Law Enforcement Officers’ Pension System who separates from employment on or before June 30, 2000:</text>
      <level label="i">
        <text>is a deferred allowance that begins at normal retirement age; and</text>
      </level>
      <level label="ii">
        <text>except as provided in paragraph (2)(ii) of this subsection, is computed on the basis of the member’s average final compensation and eligibility service at separation from employment.</text>
      </level>
    </level>
    <level label="2">
      <level label="i">
        <text>Except as provided in subparagraph (ii) of this paragraph, the vested allowance described under paragraph (1) of this subsection shall equal the number of years of the member’s creditable service multiplied by:</text>
        <level label="1">
          <text>1% of the member’s average final compensation that is not in excess of the Social Security integration level; and</text>
        </level>
        <level label="2">
          <level label="1">
            <text>7% of the member’s average final compensation that exceeds the Social Security integration level.</text>
          </level>
        </level>
      </level>
      <level label="ii">
        <text>If the former member’s annuity is greater than the former member’s vested allowance calculated under subparagraph (i) of this paragraph, the former member’s vested allowance shall equal the former member’s annuity.</text>
      </level>
    </level>
  </level>
  <level label="h">
    <level label="1">
      <text>This subsection applies only to a former member of the Law Enforcement Officers’ Pension System who:</text>
      <level label="i">
        <text>transferred to the Law Enforcement Officers’ Pension System from the Employees’ Retirement System; and</text>
      </level>
      <level label="ii">
        <text>separates from employment on or before June 30, 2000.</text>
      </level>
    </level>
    <level label="2">
      <text>The vested allowance of a former member:</text>
      <level label="i">
        <text>is a deferred allowance that begins at normal retirement age; and</text>
      </level>
      <level label="ii">
        <text>except as provided in paragraph (4) of this subsection, is computed on the basis of the member’s average final compensation and eligibility service at separation from employment.</text>
      </level>
    </level>
    <level label="3">
      <text>Except as provided in paragraph (4) of this subsection, the vested allowance described under paragraph (2) of this subsection shall equal:</text>
      <level label="i">
        <text>2% of the member’s average final compensation multiplied by each year of the member’s first 30 years of creditable service; and</text>
      </level>
      <level label="ii">
        <text>1% of the member’s average final compensation multiplied by each year of creditable service in excess of 30 years.</text>
      </level>
    </level>
    <level label="4">
      <text>If the former member’s annuity is greater than the former member’s vested allowance calculated under paragraph (3) of this subsection, the former member’s vested allowance shall equal the former member’s annuity.</text>
    </level>
  </level>
  <level label="i">
    <level label="1">
      <text>This paragraph applies only to a former member who is:</text>
      <level label="i">
        <text>receiving a deferred allowance under subsection (g) of this section; and</text>
      </level>
      <level label="ii">
        <text>under the age of 62 years.</text>
      </level>
    </level>
    <level label="2">
      <text>On receipt of a vested allowance, a former member shall receive a supplemental deferred allowance that equals the difference between:</text>
      <level label="i">
        <text>the former member’s vested allowance; and</text>
      </level>
      <level label="ii">
        <level label="1">
          <text>7% of the member’s average final compensation for each year of creditable service.</text>
        </level>
      </level>
    </level>
    <level label="3">
      <text>Payment of the supplemental deferred allowance ends when the former member:</text>
      <level label="i">
        <text>attains the age of 62 years; or</text>
      </level>
      <level label="ii">
        <text>dies.</text>
      </level>
    </level>
  </level>
  <level label="j">
    <level label="1">
      <text>If a former member who elected a vested allowance requests the return of accumulated contributions before payment of the vested allowance begins, the Board of Trustees shall return the accumulated contributions to the former member.</text>
    </level>
    <level label="2">
      <text>When accumulated contributions are returned to a former member, the former member is not entitled to further benefits on account of the former member’s previous membership.</text>
    </level>
  </level>
</section>
