Md. Code, State Personnel and Pensions § 28-205
This is the official text of Md. Code, State Personnel and Pensions § 28-205, part of Maryland’s Code, State Personnel and Pensions — governs state employees and public pensions.
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§28–205.
Official statutory text
(a) Except as provided in subsection (b) of this section, regular interest is payable on member contributions until retirement or withdrawal of accumulated contributions at the rate of:
(1) 4% a year, compounded annually, for a member who has transferred from the Employees’ Retirement System; or
(2) 5% a year, compounded annually, for each other member.
(b) No further interest shall be paid on member contributions after membership ends if the former member is not eligible to receive a vested allowance under Title 29, Subtitle 3 of this article.
(1) 4% a year, compounded annually, for a member who has transferred from the Employees’ Retirement System; or
(2) 5% a year, compounded annually, for each other member.
(b) No further interest shall be paid on member contributions after membership ends if the former member is not eligible to receive a vested allowance under Title 29, Subtitle 3 of this article.
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