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H.B. 1500
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VETOES
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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) (1) THIS SUBSECTION APPLIES TO SWORN MEMBERS OF THE MASS
TRANSIT ADMINISTRATION POLICE FORCE WHO;
(I) HAVE THE POWERS GRANTED TO A POLICE OFFICER UNDER §
7-207 OF THE TRANSPORTATION ARTICLE; AND
(II) TRANSFER TO THE LAW ENFORCEMENT OFFICERS' PENSION
SYSTEM ON OR BEFORE DECEMBER 31, 2005.
(2) THE BOARD OF TRUSTEES SHALL TRANSFER TO THE ACCUMULATION
FUND OF THE LAW ENFORCEMENT OFFICERS' PENSION SYSTEM THE EMPLOYER
CONTRIBUTIONS MADE TO THE PENSION SYSTEM UNDER § 7-603 OF THE
TRANSPORTATION ARTICLE ON BEHALF OF THOSE MEMBERS UNDER PARAGRAPH (1)
OF THIS SUBSECTION, PLUS THE INTEREST EARNED ON THOSE CONTRIBUTIONS
THROUGH THE DATE OF TRANSFER.
(D) (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.
26-203.2.
(A) THIS SECTION APPLIES TO A SWORN MEMBER OF THE MASS MARYLAND
TRANSIT ADMINISTRATION POLICE FORCE WHO:
(1) HAS THE POWERS GRANTED TO A POLICE OFFICER UNDER § 7-207 OF
THE TRANSPORTATION ARTICLE; AND
(2) TRANSFERS TO THE LAW ENFORCEMENT OFFICERS' PENSION
SYSTEM ON OR BEFORE DECEMBER 31, 2005.
(B) A MEMBER MAY TRANSFER THE MEMBER'S ELIGIBILITY SERVICE
RECOGNIZED UNDER THE PENSION SYSTEM UNDER § 7-603 OF THE
TRANSPORTATION ARTICLE TO THE LAW ENFORCEMENT OFFICERS' PENSION
SYSTEM IF, WITHIN 1 YEAR AFTER BECOMING A MEMBER OF THE LAW
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- 4482 -
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