In this chapter, the following terms have the meanings indicated. Terms Defined. “Allowance” means a disability retirement allowance, service retirement allowance, or vested allowance. “Earnable compensation” has the meaning stated in COMAR 22.01.01.01B(5). “Earnings” means the earnable compensation received by a retiree in a calendar year. “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. Effective Date of Retirement. “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. “Effective date of retirement”, for the Judges’ Retirement System, means the first day in which a retiree commences receipt of an allowance. “Gross annual compensation” means the total compensation paid in a calendar year, before any deductions are taken. “Retiree” means an individual who has separated from employment with a participating employer and receives an allowance. Retirement. “Retirement” means the commencement of an allowance after separation from employment with a participating employer. “Retirement” includes the commencement of a vested allowance that is deferred after separation from employment until the former member is eligible for immediate payment.