Section 29-405 - Compound cost-of-living adjustment - Five percent rate cap(a) This section applies only to an allowance received by a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree: (1) of the Employees' Retirement System or the Teachers' Retirement System who elected Selection B (Limited cost-of-living adjustment); or(2) who transferred to the Law Enforcement Officers' Pension System from the Employees' Retirement System and had elected Selection B (Limited cost-of-living adjustment).(b) A cost-of-living adjustment payable under this section shall be a compound cost-of-living adjustment computed in accordance with § 29-402(d)(2) of this subtitle.(c) A cost-of-living adjustment payable under this section shall be subject to a cost-of-living rate cap of 5%.Amended by 2013 Md. Laws, Ch. 551,Sec. 2, eff. 7/1/2013.Added by 2013 Md. Laws, Ch. 550,Sec. 2, eff. 7/1/2013.