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Maryland Code, State Personnel and Pensions § 29-405

Current as of January 01, 2025 | Updated by Findlaw Staff

(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%.

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Cite this article: FindLaw.com - Maryland Code, State Personnel and Pensions § 29-405 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-personnel-and-pensions/md-code-st-pers-and-pens-sect-29-405/

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