Section 26-203.1 - Transfer of employer contributions; local pension fund transfers. - Maryland Statutes

§ 26-203.1. Transfer of employer contributions; local pension fund transfers.
 

(a)  In general.- For members who transfer from the Employees' Pension System or the Employees' Retirement System, the Board of Trustees shall transfer to the accumulation fund of the Law Enforcement Officers' Pension System the employer contributions that were made to the Employees' Retirement System and the Employees' Pension System on behalf of those members who transferred, plus the interest earned on those contributions through the date of transfer. 

(b)  BWI Airport Fire & Rescue employees; Law Enforcement Officers' Pension System; fund transfers.- For those full-time employees of the BWI Airport Fire & Rescue Department who were employed on or after October 1, 1993 and who elect membership in the Law Enforcement Officers' Pension System on or before December 31, 2000, the Board of Trustees shall transfer to the accumulation fund of the Law Enforcement Officers' Pension System the employer contributions made to the Employees' Retirement System and the Employees' Pension System on behalf of those transferring members, plus the interest earned on those contributions through the date of transfer. 

(c)  Local pension fund transfers.-  

(1) 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. 

(2) The Board of Trustees shall deposit any funds transferred under paragraph (1) of this subsection in the accumulation fund of the Law Enforcement Officers' Pension System. 

(d)  Maryland Transit Administration Pension System.-  

(1) On or before January 1, 2006, for members who transfer from the Maryland Transit Administration Pension System established under § 7-603 of the Transportation Article, the Maryland Transit Administration shall transfer to the Board of Trustees the employer contributions made to the pension system established under § 7-603 of the Transportation Article on behalf of those members who transfer, plus the interest earned on those contributions through July 1, 2005. 

(2) The Board of Trustees shall deposit any funds transferred under paragraph (1) of this subsection in the Accumulation Fund of the Law Enforcement Officers' Pension System. 

(e)  Department of Public Safety and Correctional Services Internal Investigative Unit.-  

(1) This subsection applies to members of the Department of Public Safety and Correctional Services Internal Investigative Unit who: 

(i) have the powers granted to a police officer under § 10-701 of the Correctional Services Article; and 

(ii) transfer to the Law Enforcement Officers' Pension System on or before December 31, 2007. 

(2) The Board of Trustees shall transfer to the accumulation fund of the Law Enforcement Officers' Pension System the employer contributions made to the Correctional Officers' Retirement System or the Employees' Pension System on behalf of those members under paragraph (1) of this subsection, plus the interest earned on those contributions through the date of transfer. 
 

[1996, ch. 438, § 3; ch. 581; 1997, chs. 148, 149, 162; 1998, chs. 390, 494, 554; 1999, ch. 10; 2000, ch. 397; 2005, ch. 517; 2007, ch. 405.]