Md. Code, State Pers. & Pens. § 22-214

Current with changes from the 2024 Legislative Session
Section 22-214 - Contributions by members
(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 members 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 members 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 members 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 members 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.

Md. Code, SPP § 22-214