§ 22-214. Contributions by members

MD State Pers & Pens Code § 22-214 (2019) (N/A)
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(a)    (1)    This subsection applies only to a member who is subject to Selection A (Additional member contributions).

(2)    For a member whose membership started on or before June 30, 1973, the contribution rate as a percent of a member's earnable compensation is the lesser of:

(i)    2% plus the contribution rate adopted by the Board of Trustees and in effect when membership began; or

(ii)    7%.

(3)    For a member whose membership started on or after July 1, 1973, the contribution rate is 7% of a member's earnable compensation.

(4)    For a member who under § 22-308(b)(2) of this title elects to receive full-time service credit for regular part-time employment, the contribution rate is 7% of the compensation the member would have earned had the member been a full-time employee.

(b)    (1)    This subsection applies to a member who is subject to Selection B (Limited cost-of-living adjustment).

(2)    For a member whose membership started on or before June 30, 1973, the contribution rate as a percent of a member's earnable compensation is the lesser of:

(i)    the contribution rate adopted by the Board of Trustees and in effect when membership began; or

(ii)    5%.

(3)    For a member whose membership started on or after July 1, 1973, the contribution rate is 5% of a member's earnable compensation.

(4)    For a member who elects under § 22-308(b)(2) of this title to receive full-time service credit for regular part-time employment, the contribution rate is 5% of the compensation the member would have earned had the member been a full-time employee.

(c)    (1)    This subsection applies to a member who is subject to Selection C (Combination formula).

(2)    A member’s contribution rate is as provided in § 23-212 of this article.