Section 31-304 - Transfer of accumulated contributions. - Maryland Statutes

§ 31-304. Transfer of accumulated contributions.
 

If a participating governmental unit withdraws from a State system, the accumulated contributions of the withdrawn employees shall be transferred on the withdrawal date to the administrative board of the local pension system or new State system and credited to the account of those employees. 
 

[An. Code 1957, art. 73B, §§ 10-106, 10-229; 1994, ch. 6, § 2; 1998, ch. 494; 2006, ch. 258; 2010, ch. 580, § 2.]