Regulation .01 Definitions.
Regulation .01 Definitions.LinkCopy Citation
A.
In this chapter, the following terms have the meanings indicated.
B.
Terms Defined.
(1)
“Allowance” means a disability retirement allowance, service retirement allowance, or vested allowance.
(2)
“Earnable compensation” has the meaning stated in COMAR 22.01.01.01B(5).
(3)
“Earnings” means the earnable compensation received by a retiree in a calendar year.
(4)
“Earnings limitation” means the annual amount that a retiree may earn in certain types of re-employment during certain periods of time after retirement, as specified by law, before the retiree’s allowance is subject to a reduction.
(5)
Effective Date of Retirement.
(a)
“Effective date of retirement”, except as provided in §B(5)(b) of this regulation, means the first day of the month in which a retiree commences receipt of an allowance.
(b)
“Effective date of retirement”, for the Judges’ Retirement System, means the first day in which a retiree commences receipt of an allowance.
(6)
“Gross annual compensation” means the total compensation paid in a calendar year, before any deductions are taken.
(7)
“Retiree” means an individual who has separated from employment with a participating employer and receives an allowance.
(8)
Retirement.
(a)
“Retirement” means the commencement of an allowance after separation from employment with a participating employer.
(b)
“Retirement” includes the commencement of a vested allowance that is deferred after separation from employment until the former member is eligible for immediate payment.