Section 20-207 - Limit on amount used to determine retirement allowance. - Maryland Statutes

§ 20-207. Limit on amount used to determine retirement allowance.
 

(a)  Applicability of section.- This section does not apply to an individual who is a member of a State system on or before June 30, 1996. 

(b)  Compensation limit.- Notwithstanding any other provision of law, for plan years beginning on or after July 1, 1996, the annual compensation that may be taken into account when determining the retirement allowance payable to a member of a State system, may not exceed the compensation limit under § 401(a)(17)(B) of the Internal Revenue Code and regulations adopted thereunder. 
 

[1996, ch. 608; 2002, ch. 375.]