Section 29-305 - Immediate vesting for constitutional officers. - Maryland Statutes

§ 29-305. Immediate vesting for constitutional officers.
 

(a)  "Constitutional officer" defined.- In this section, "constitutional officer" means: 

(1) the Attorney General of the State; 

(2) the Comptroller of the State; 

(3) the Lieutenant Governor of the State; 

(4) the Secretary of State; or 

(5) the Treasurer of the State. 

(b)  Vesting rights and retirement allowance.-  

(1) A constitutional officer who is a member of the Employees' Pension System: 

(i) on taking office, has immediate vesting rights in the Employees' Pension System; and 

(ii) except as provided in paragraph (2) of this subsection, is entitled to a retirement allowance as provided in Title 23, Subtitle 4 of this article. 

(2) The retirement allowance of a constitutional officer who serves at least one full term may not be less than 10% of the annual salary received during the constitutional officer's last term. 
 

[An. Code 1957, art. 73B, § 4-415; 1994, ch. 6, § 2.]