Section 25-206 - Transfer of employer contributions from local pension system. - Maryland Statutes

§ 25-206. Transfer of employer contributions from local pension system.
 

(a)  In general.- For members who transfer from a local pension system, the local pension system shall transfer to the Board of Trustees the employer contributions that were made to the local pension system on behalf of those members who transferred, plus the interest earned on those contributions through the date of transfer. 

(b)  Deposit to accumulation fund.- The Board of Trustees shall deposit any funds transferred under subsection (a) of this section in the accumulation fund of the Correctional Officers' Retirement System. 
 

[2006, ch. 258.]