EXPLANATION: CAPITALS indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: The Council President
At the request of: The Administration (Department of Finance)
A BILL ENTITLED
AN ORDINANCE concerning
title
Change to Grow: 10-Year Plan - Fire and Police Employees' Retirement System - Retirement Savings Plan
FOR the purpose of amending the provisions governing the Fire and Police Employees' Retirement System to establish new eligibility, contribution, and benefit provisions for members initially employed or reemployed on or after a certain date; amending the Retirement Savings Plan to require these newly employed or reemployed employees to become members of the Retirement Savings Plan, subject to certain eligibility, contribution, and benefit provisions; providing that these newly employed or reemployed members are not eligible to receive a job removal benefit or to participate in DROP 1; defining certain terms; reconstituting the Board of Trustees of the Retirement Savings Plan; providing for a special effective date; and generally relating to the Fire and Police Employees' Retirement System of Baltimore City and the Retirement Savings Plan of Baltimore City.
body
BY repealing and reordaining, with amendments
Article 22 - Retirement Systems
Section(s) 32(f)(1), 34(a-1), (a-2), (a-3), (b-1)(4), (b-2), (d)(3), and (j-1)(1),
36(b)(3),and 36C(c)(1-b)(B)
Baltimore City Code
(Edition 2000)
BY adding
Article 22 - Retirement Systems
Section(s) 34(a-3), (b-1)(7), (b-3), (d)(4), (h-1), and (j-2), and 36(h)(6)
Baltimore City Code
(Edition 2000)
BY repealing and reordaining, with amendments
Article 22A - Retirement Savings Plan
Section(s) 1-1(h), (i), (l), (n), (q), and (x), 2-2(a), (b)(1), (b)(2)(i), (b)(3)(i),
and (c), 3-1, 3-2, 3-3, 4-1(c), 5-1, 5-2(a) and (b), 5-3(b), 5-5(a) and (d),
5-6(a)(2)(i), and 6-1(b)(2)(i)
Baltimore City Code
(Edition 2000)
BY adding
Article 22A - Retirement Savings Plan
Section(s) 1-1(e-1), (e-2), (u-1), and (u-2) and 5-5(d)
Baltimore City Code
(Edition 2000)
SECTION 1. BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE, That the Laws of Baltimore City read as follows:
Baltimore City Code
Article 22. Retirement Systems
Subtitle - Fire and Police Employees' Retirement System
§ 32. Service creditable.
(f) Military service credit.
(1) Notwithstanding any other provision of this subtitle, [upon] ON proper application to the System, credit for military service, as defined in § 32(e) of this subtitle, for purposes of eligibility for a normal service retirement under § 34(a-1), DROP under § 36B, or DROP 2 under § 36C, and for benefit purposes, shall be granted to:
(I) any member of this [system] SYSTEM who:
(A) BECAME A MEMBER OF THIS SYSTEM BEFORE JANUARY 1, 2015,
(B) [has] served in the military prior to employment with the City, AND
(C) [if that member] has acquired at least 10 years of service and attained the age of 50, or has acquired 20 years of service; OR
(II) ANY MEMBER OF THIS SYSTEM WHO:
(A) FIRST BECOMES A MEMBER OF THIS SYSTEM ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER ON OR AFTER JANUARY 1, 2015;
(B) SERVED IN THE MILITARY PRIOR TO EMPLOYMENT OR REEMPLOYMENT WITH THE CITY; AND
(B) HAS ACQUIRED AT LEAST 25 YEARS OF SERVICE AND ATTAINED THE AGE OF 55, OR HAS ACQUIRED 10 YEARS OF SERVICE AND ATTAINED THE AGE OF 60.
§ 34. Benefits.
(a-1) Normal service retirement benefits - AGE AND SERVICE REQUIREMENTS.
(1) [Age and service requirements for retirements] RETIREMENTS on or before June 30, 2010.
(I) A member may retire with a normal service retirement on or before June 30, 2010, if, on his or her last day of City employment, the member meets the following age and service requirements:
(A) [(i)] for an employee who became a member of this [system] SYSTEM on or before June 30, 2003, and who retired on or after June 30, 1989:
1. [(A)] age 50, regardless of years of service; or
2. [(B)] regardless of age, 20 years of service; and
(B) [(ii)] for an employee who became a member of this [system] SYSTEM on or after July 1, 2003:
1. [(A)] age 50, with at least 10 years of service as a contributing member of this [system] SYSTEM; or
2. [(B)] regardless of age, 20 years of service, at least 10 years of which were as a contributing member of this [system] SYSTEM.
(II) FOR PURPOSES OF THIS PARAGRAPH (1), "YEARS OF SERVICE" DOES NOT INCLUDE ANY YEARS OF SERVICE EARNED AFTER A MEMBER BECOMES REEMPLOYED ON OR AFTER JANUARY 1, 2015.
(2) [Age and service requirements for retirements] EMPLOYEES WHO WERE MEMBERS BEFORE JANUARY 1, 2015, AND WHO RETIRE on or after July 1, 2010.
(I) [A member] AN EMPLOYEE WHO WAS A MEMBER BEFORE JANUARY 1, 2015[, may retire with] IS ELIGIBLE TO RECEIVE a normal service retirement BENEFIT on or after July 1, 2010, if he or she satisfies [item (i), (ii), or (iii) that follows] ONE OF THE FOLLOWING ITEMS:
(A) [(i)] as of June 30, 2010, he or she has met the applicable [age or service] requirements [set forth in] OF paragraph (1) of this subsection[.];
(B) [(ii) as of June 30, 2010, he or she has acquired 15 or more years of service and,] on the last day of his or her City employment, he or she has met the applicable [age or service] requirements [set forth in] OF paragraph (1) of this subsection AND, AS OF JUNE 30, 2010, HE OR SHE HAS BEEN CREDITED WITH 15 OR MORE OF SEDRVICE[.]; OR
(C) [(iii)] on the last day of his or her City employment, he or she has either:
1. [(A) acquired] BEEN CREDITED WITH 25 or more years of service, at least 15 years of which were as a contributing member of this System; or
2. I. [(B) 1.] attained age 55; and
II. [2. acquired] BEEN CREDITED WITH 15 or more years of service as a contributing member of this System.
(II) FOR PURPOSES OF THIS PARAGRAPH (2), "YEARS OF SERVICE" DOES NOT INCLUDE ANY YEARS OF SERVICE EARNED AFTER A MEMBER BECOMES REEMPLOYED ON OR AFTER JANUARY 1, 2015.
(3) EMPLOYEES WHO BECOME MEMBERS ON OR AFTER JANUARY 1, 2015.
(I) AN EMPLOYEE WHO FIRST BECOMES A MEMBER OF THIS SYSTEM ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER FOLLOWING REEMPLOYMENT ON OR AFTER JANUARY 1, 2015, IS ELIGIBLE TO RECEIVE A NORMAL SERVICE RETIREMENT BENEFIT IF THE MEMBER, AS OF THE LAST DAY OF HIS OR HER EMPLOYMENT, HAS:
(A) ATTAINED AGE 55 AND BEEN CREDITED WITH AT LEAST 25 YEARS OF SERVICE, WITH AT LEAST 15 YEARS OF SERVICE AS A CONTRIBUTING MEMBER OF THIS SYSTEM; OR
(B) ATTAINED AGE 60 AND BEEN CREDITED WITH AT LEAST 10 YEARS OF SERVICE, WITH AT LEAST 6 YEARS OF SERVICE AS A CONTRIBUTING MEMBER OF THIS SYSTEM.
(II) FOR PURPOSES OF THIS PARAGRAPH (3):
(A) "SERVICE AS A CONTRIBUTING MEMBER OF THIS SYSTEM" INCLUDES PREVIOUS SERVICE PURCHASED FOLLOWING REEMPLOYMENT UNDER § 32(H-2) OF THIS SUBTITLE; AND
(B) EXCEPT FOR YEARS OF SERVICE CREDITED UNDER § 32(F) OF THIS SUBTITLE, "YEARS OF SERVICE" DOES NOT INCLUDE ANY YEARS OF PREVIOUS SERVICE OR TRANSFERRED-IN SERVICE NOT PURCHASED UNDER § 32 OF THIS SUBTITLE.
(a-2) Early service retirement benefits - Age and service requirements.
(1) EMPLOYEES WHO WERE MEMBERS BEFORE JANUARY 1, 2015, AND WHO RETIRE ON OR AFTER JULY 1, 2010.
(I) [(1) On or after July 1, 2010, a member of this System on June 30, 2010,] AN EMPLOYEE who WAS A MEMBER BEFORE JANUARY 1, 2015, TERMINATES EMPLOYMENT ON OR AFTER JULY 1, 2010, AND does not satisfy the conditions of either paragraph [(2)(i)] 2(I)(A) or paragraph [(2)(ii)] 2(I)(B) of subsection (a-1) of this section [may retire with] IS ELIGIBLE TO RECEIVE an early service retirement BENEFIT [WHEN] IF, AS OF THE LAST DAY OF HIS OR HER EMPLOYMENT, [when] he or she [first] meets the applicable [age or service] requirements for a normal service retirement under subsection (a-1)(1) of this section.
(II) [(2)] The benefit commencement date of an early service retirement UNDER THIS PARAGRAPH (1) is any date, AS elected by the member in accordance with subsection [(a 3)] (A-4) of this section, [and] that is:
(A) on or after the date the member first meets the applicable [age or service] requirements for a normal service retirement under subsection (a-1)(1) of this section; and
(B) before the date [as of] ON which the member would have first met the [age and service] requirements for a normal service retirement under subsection [(a 1)(2)(iii)] (A-1)(2)(I)(C) of this section had he or she continued employment with the City.
(2) EMPLOYEES WHO BECOME MEMBERS ON OR AFTER JANUARY 1, 2015.
(I) AN EMPLOYEE WHO FIRST BECOMES A MEMBER ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER FOLLOWING REEMPLOYMENT ON OR AFTER JANUARY 1, 2015, IS ELIGIBLE TO RECEIVE AN EARLY SERVICE RETIREMENT BENEFIT IF THE MEMBER TERMINATES EMPLOYMENT WITH THE CITY WITHIN 5 YEARS OF THE DATE ON WHICH THE MEMBER WOULD HAVE FIRST MET THE REQUIREMENTS FOR A NORMAL SERVICE RETIREMENT UNDER SUBSECTION (A-1)(3) OF THIS SECTION HAD HE OR SHE CONTINUED EMPLOYMENT WITH THE CITY.
(II) THE BENEFIT COMMENCEMENT DATE OF AN EARLY SERVICE RETIREMENT UNDER THIS PARAGRAPH (2) IS ANY DATE, AS ELECTED BY THE MEMBER IN ACCORDANCE WITH SUBSECTION (A-4) OF THIS SECTION, THAT IS:
(A) ON OR AFTER THE DATE THE MEMBER TERMINATES EMPLOYMENT WITH THE CITY; AND
(B) BEFORE THE DATE ON WHICH THE MEMBER WOULD HAVE FIRST MET THE REQUIREMENTS FOR A NORMAL SERVICE RETIREMENT UNDER SUBSECTION (A-1)(3) OF THIS SECTION HAD HE OR SHE CONTINUED EMPLOYMENT WITH THE CITY.
(A-3) DEFERRED VESTED BENEFITS.
(1) ELIGIBILITY.
(I) AN EMPLOYEE WHO FIRST BECOMES A MEMBER OF THIS SYSTEM ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER FOLLOWING REEMPLOYMENT ON OR AFTER JANUARY 1, 2015, IS ELIGIBLE TO RECEIVE A DEFERRED VESTED BENEFIT IF THE MEMBER TERMINATES EMPLOYMENT WITH THE CITY:
(A) BEFORE BECOMING ELIGIBLE FOR A NORMAL SERVICE RETIREMENT UNDER SUBSECTION (A-1)(3) OF THIS SECTION OR AN EARLY SERVICE RETIREMENT UNDER SUBSECTION (A-2)(2) OF THIS SECTION;
(B) AFTER BEING CREDITED WITH AT LEAST 10 YEARS OF SERVICE AS A CONTRIBUTING MEMBER OF THIS SYSTEM; AND
(C) DOES NOT WITHDRAW HIS OR HER ACCUMULATED CONTRIBUTIONS CREDITED TO HIS OR HER ACCOUNT UNDER § 36(B) OF THIS SUBTITLE.
(II) FOR PURPOSES OF THIS PARAGRAPH (1), "SERVICE AS A CONTRIBUTING MEMBER OF THIS SYSTEM" INCLUDES PREVIOUS SERVICE PURCHASED FOLLOWING REEMPLOYMENT UNDER § 32(H-2) OF THIS SUBTITLE.
(2) COMMENCEMENT OF BENEFIT - IN GENERAL.
THE BENEFIT COMMENCEMENT DATE OF A DEFERRED VESTED BENEFIT UNDER THIS SUBSECTION (A-3) IS ANY DATE, AS ELECTED BY THE MEMBER IN ACCORDANCE WITH SUBSECTION (A-4) OF THIS SECTION, THAT IS:
(I) ON OR AFTER THE DATE ON WHICH THE MEMBER ATTAINS:
(A) AGE 50, FOR A MEMBER WITH 20 OR MORE YEARS OF CREDITED SERVICE AS OF THE MEMBER'S TERMINATION DATE; OR
(B) AGE 55, FOR A MEMBER WITH AT LEAST 10, BUT LESS THAN 20, YEARS OF CREDITED SERVICE AS OF THE MEMBER'S TERMINATION DATE, AND
(II) ON OR BEFORE THE DATE ON WHICH A MEMBER ATTAINS:
(A) AGE 55, FOR A MEMBER WITH 25 OR MORE YEARS OF CREDITED SERVICE AS OF THE MEMBER'S TERMINATION DATE; OR
(B) AGE 60, FOR A MEMBER WITH AT LEAST 10, BUT LESS THAN 25, YEARS OF CREDITED SERVICE AS OF THE MEMBER'S TERMINATION DATE.
(3) COMMENCEMENT OF BENEFIT - AUTOMATIC.
IF THE MEMBER DOES NOT ELECT TO BEGIN DISTRIBUTIONS BEFORE THE DATE DESIGNATED IN PARAGRAPH (2)(II) OF THIS SUBSECTION, THE MEMBER WILL AUTOMATICALLY BEGIN RECEIVING A BENEFIT IN THE FORM OF THE MAXIMUM ALLOWANCE PROVIDED UNDER SUBSECTION (K) OF THIS SECTION.
(4) REEMPLOYMENT AFTER EARNING A DEFERRED VESTED BENEFIT.
IF AN EMPLOYEE WHO IS REEMPLOYED AFTER EARNING A DEFERRED VESTED BENEFIT, BUT BEFORE COMMENCING RECEIPT OF THE BENEFIT, THE EMPLOYEE:
(I) WILL BE CREDITED WITH ADDITIONAL YEARS OF SERVICE ON HIS OR HER REEMPLOYMENT, AND
(II) ON THE EMPLOYEE'S SUBSEQUENT RETIREMENT, IS ELIGIBLE TO RECEIVE A BENEFIT UNDER SUBSECTION (B-3) OF THIS SECTION, CALCULATED TO INCLUDE YEARS OF SERVICE AFTER REEMPLOYMENT.
(A-4) [(a-3)] Application.
[To retire] EXCEPT AS PROVIDED IN SUBSECTION (A-3)(3) OF THIS SECTION, TO BEGIN RECEIVING A BENEFIT under subsection (a-1), [or] (a-2), or (A-3) of this section, the member must:
(1) [(i)] apply to the Board of Trustees, on a form approved by the Board;
(2) [(ii)] set forth the date he or she wants to [retire] BEGIN RECEIVING THE BENEFIT; and
(3) [(iii)] submit the application to the Board no less than 30 days nor more than 90 days before the BENEFIT COMMENCEMENT date [of retirement].
(b-1) Allowance on service retirement.
Upon retirement from service a member shall receive a service retirement allowance as follows:
. . .
(4) (I) For [any] AN EMPLOYEE WHO WAS A member BEFORE JANUARY 1, 2015, AND who, [retires] AFTER BECOMING ELIGIBLE TO RECEIVE A NORMAL SERVICE RETIREMENT BENEFIT UNDER SUBSECTION (A-1) OF THIS SECTION, TERMINATES EMPLOYMENT WITH THE CITY on or after June 29, 1993, [with a normal service retirement under subsection (a-1) of this section,] the normal service retirement [allowance shall consist] BENEFIT CONSISTS of:
(A) an annuity [which shall be] THAT IS the actuarial equivalent of his OR HER accumulated contributions [at the time of his retirement]; and
(B) a pension [which] THAT, together with [his] THE annuity, [shall be equal to] EQUALS THE SUM OF:
1. 2.5% of [his] THE EMPLOYEE'S average final compensation for each year of the first 20 years of service, plus
2. 2% of [his] THE EMPLOYEE'S average final compensation for each SUBSEQUENT year of service [thereafter].
(II) [(C)] The additional annuity provided as a result of voluntary contributions permitted under § 36(b)(4) [shall be payable and shall] MAY not be used in determining the pension payable under [§ 34(b 1)(4)(B)] SUBPARAGRAPH (I)(B) OF THIS PARAGRAPH (4).
(7) (I) FOR AN EMPLOYEE WHO FIRST BECOMES A MEMBER ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER FOLLOWING REEMPLOYMENT ON OR AFTER JANUARY 1, 2015, AND WHO TERMINATES EMPLOYMENT WITH THE CITY AFTER BECOMING ELIGIBLE TO RECEIVE A NORMAL SERVICE RETIREMENT BENEFIT UNDER SUBSECTION (A-1)(3) OF THIS SECTION, THE NORMAL SERVICE RETIREMENT BENEFIT CONSISTS OF THE FOLLOWING, SUBJECT TO THE MAXIMUM SET BY SUBPARAGRAPH (II) OF THIS SUBSECTION (7):
(A) AN ANNUITY THAT IS THE ACTUARIAL EQUIVALENT OF HIS OR HER ACCUMULATED CONTRIBUTIONS AS OF THE DATE OF TERMINATION OF MEMBERSHIP UNDER § 31(4) AND (5) OF THIS SUBTITLE; AND
(B) A PENSION THAT, TOGETHER WITH THE ANNUITY, EQUALS THE SUM OF:
1. 1.0% OF THE EMPLOYEE'S AVERAGE FINAL COMPENSATION FOR EACH YEAR OF THE FIRST 10 YEARS OF SERVICE, PLUS
2. 1.67% OF THE EMPLOYEE'S AVERAGE FINAL COMPENSATION FOR EACH SUBSEQUENT YEAR OF SERVICE DURING THE NEXT 10 YEARS, PLUS
3. 1.33% OF THE EMPLOYEE'S AVERAGE FINAL COMPENSATION FOR EACH SUBSEQUENT YEAR OF SERVICE DURING THE NEXT 10 YEARS.
(II) THE NORMAL SERVICE RETIREMENT ALLOWANCE EARNABLE BY A MEMBER UNDER THIS PARAGRAPH (7) MAY NOT EXCEED 40% OF THE MEMBER'S AVERAGE FINAL COMPENSATION, REGARDLESS OF YEARS OF SERVICE CREDITED BEYOND 30 YEARS.
(b-2) Allowance on early service retirement.
(1) EMPLOYEES WHO WERE MEMBERS BEFORE JANUARY 1, 2015, AND WHO RETIRE ON OR AFTER JULY 1, 2010.
For [any] AN EMPLOYEE WHO WAS A member BEFORE JANUARY 1, 2015, AND who, AFTER BECOMING ELIGIBLE TO RECEIVE AN EARLY SERVICE RETIREMENT BENEFIT UNDER SUBSECTION (A-2)(1) OF THIS SECTION, [retires] TERMINATES EMPLOYMENT WITH THE CITY on or after July 1, 2010, [with an early service retirement under subsection (a-2) of this section,] the early service retirement [allowance] BENEFIT [shall consist] CONSISTS of:
(i) an annuity [which shall be] THAT IS the actuarial equivalent of his or her accumulated contributions [at the time of his or her retirement]; and
(ii) a pension [which] THAT, together with the annuity, [shall be equal to] EQUALS:
(A) the sum of:
1. 2.5% of [his or her] THE EMPLOYEE'S average final compensation for each year of the first 20 years of service, [and] plus
2. 2.0% of [his or her] THE EMPLOYEE'S average final compensation for each subsequent year of service, reduced by
(B) the applicable percentage shown below for each month or fraction of a month by which [his or her] THE EMPLOYEE'S benefit commencement date precedes the date [as of] ON which he or she would have first met the requirements for a normal service retirement under subsection [(a 1)(2)(iii)] (A 1)(2)(I)(C) of this section had he or she continued employment with the City:
1. 6.5/12% per month for the first 60 months or fraction of a month immediately preceding the member's normal service retirement date[;], PLUS
2. 4.5/12% per month for the next 60 months or fraction of a month[;], PLUS
3. 1/4% per month for the next 60 months or fraction of a month[;], [and] PLUS
4. 1/6% per month for [any additional next months] EACH SUBSEQUENT MONTH or fraction of a month.
(2) EMPLOYEES WHO BECOME MEMBERS ON OR AFTER JANUARY 1, 2015.
(I) FOR AN EMPLOYEE WHO FIRST BECOMES A MEMBER ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER FOLLOWING REEMPLOYMENT ON OR AFTER JANUARY 1, 2015, AND WHO, AFTER BECOMING ELIGIBLE TO RECEIVE AN EARLY RETIREMENT SERVICE BENEFIT UNDER SUBSECTION (A-2)(2) OF THIS SECTION, TERMINATES EMPLOYMENT WITH THE CITY, THE EARLY RETIREMENT BENEFIT CONSISTS OF THE FOLLOWING, SUBJECT TO THE MAXIMUM SET BY SUBPARAGRAPH (II) OF THIS PARAGRAPH (2):
(A) AN ANNUITY THAT IS THE ACTUARIAL EQUIVALENT OF THE EMPLOYEE'S ACCUMULATED CONTRIBUTIONS AS OF THE DATE OF TERMINATION OF MEMBERSHIP UNDER § 31(4) AND (5) OF THIS SUBTITLE; AND
(B) A PENSION THAT, TOGETHER WITH THE ANNUITY, EQUALS:
1. THE SUM OF:
I. 1.0% OF THE EMPLOYEE'S AVERAGE FINAL COMPENSATION FOR EACH YEAR OF THE FIRST 10 YEARS OF SERVICE, PLUS
II. 1.67% OF THE EMPLOYEE'S AVERAGE FINAL COMPENSATION FOR EACH SUBSEQUENT YEAR OF SERVICE DURING THE NEXT 10 YEARS, PLUS
` III. 1.33% OF THE EMPLOYEE'S AVERAGE FINAL COMPENSATION FOR EACH SUBSEQUENT YEAR OF SERVICE DURING THE NEXT 10 YEARS, REDUCED BY
2. 0.5% PER MONTH FOR EACH MONTH OR FRACTION OF A MONTH BY WHICH THE BENEFIT COMMENCEMENT DATE PRECEDES THE DATE ON WHICH THE MEMBER WOULD HAVE FIRST MET THE REQUIREMENTS FOR A NORMAL SERVICE RETIREMENT UNDER SUBSECTION (A-1)(3) OF THIS SECTION HAD HE OR SHE CONTINUED EMPLOYMENT WITH THE CITY.
(II) THE SERVICE RETIREMENT ALLOWANCE EARNABLE BY A MEMBER UNDER SUBPARAGRAPH (I)(B) OF THIS PARAGRAPH (2), BEFORE REDUCTION, MAY NOT EXCEED 40% OF AVERAGE FINAL COMPENSATION REGARDLESS OF YEARS OF SERVICE CREDITED BEYOND 30 YEARS.
(B-3) DEFERRED VESTED BENEFIT RETIREMENT ALLOWANCE.
AN EMPLOYEE WHO IS ELIGIBLE TO RECEIVE A DEFERRED VESTED BENEFIT UNDER SUBSECTION (A-3) OF THIS SECTION WILL, ON PROPER APPLICATION TO THIS SYSTEM, RECEIVE A DEFERRED VESTED BENEFIT RETIREMENT ALLOWANCE CALCULATED PURSUANT TO THE NORMAL SERVICE RETIREMENT FORMULA SET FORTH IN SUBSECTION (B-1)(7) OF THIS SECTION, REDUCED, IF APPLICABLE, BY THE EARLY SERVICE RETIREMENT REDUCTION FACTOR SET FORTH IN SUBSECTION (B-2)(2)(I)(B)2 OF THIS SECTION.
(d) Allowance on non-line-of-duty disability retirement.
(3) Any member WHO BECAME AN EMPLOYEE BEFORE JANUARY 1, 2015, AND who retires on account of non-line-of-duty disability on or after July 1, 2003, [shall] IS ENTITLED TO receive an allowance that is the greater of:
(I) [(A)] 25% of the member's average final compensation; or
(II) [(B)] a combination of:
(A) an annuity that is the actuarial equivalent of the member's accumulated contributions at the time of retirement; and
(B) a pension that, together with the annuity, provides a [total] retirement allowance equal to:
1. 2.5% of the member's average final compensation for each YEAR of the first 20 years of service, plus
2. 2% of the member's average final compensation for each subsequent year.
(4) ANY MEMBER WHO BECOMES AN EMPLOYEE ON OR AFTER JANUARY 1, 2015, OR IS REEMPLOYED ON OR AFTER JANUARY 1, 2015, AND WHO RETIRES ON ACCOUNT OF NON-LINE-OF-DUTY DISABILITY IS ENTITLED TO RECEIVE AN ALLOWANCE THAT IS THE GREATER OF:
(I) 25% OF THE MEMBER'S AVERAGE FINAL COMPENSATION; OR
(II) A COMBINATION OF:
(A) AN ANNUITY THAT IS THE ACTUARIAL EQUIVALENT OF THE MEMBER'S ACCUMULATED CONTRIBUTIONS AT THE TIME OF RETIREMENT; AND
(B) A PENSION THAT, TOGETHER WITH THE ANNUITY, PROVIDES A RETIREMENT ALLOWANCE CALCULATED UNDER SUBSECTION (B 1)(7)(I)(B) OF THIS SECTION.
(H-1) DEATH BENEFIT FOR MEMBER OR FORMER MEMBER ELIGIBLE FOR DEFERRED VESTED BENEFIT.
IF A MEMBER OR FORMER MEMBER ELIGIBLE TO RECEIVE A DEFERRED VESTED BENEFIT UNDER SUBSECTION (A 3) OF THIS SECTION DIES BEFORE HIS OR HER BENEFIT COMMENCES, A LUMP-SUM PAYMENT EQUAL TO THE MEMBER'S ACCUMULATED CONTRIBUTIONS WILL BE MADE UNDER THE RULES SET FORTH IN § 36(B)(3) OF THIS SUBTITLE.
(j-1) Retirement on account of job removal.
(1) Scope of [paragraph] SUBSECTION.
(i) This [paragraph] SUBSECTION (J-1) [will be applied] APPLIES exclusively TO A MEMBER OF THIS SYSTEM WHO BECAME A MEMBER BEFORE JANUARY 1, 2015, [upon] AND IS SUBJECT TO receipt by [the system] THIS SYSTEM of a written determination, [from] SIGNED BY the MEMBER'S agency head [of a member of this system, which is] AND countersigned by an appropriate designee of[: (1)] the Office of the Mayor, [(2)] the Director of Human Resources, or [(3)] the Department of Law, confirming consultation by the agency head with each of the three designees and certifying one of the following criteria for a job removal retirement benefit:
(A) the member is being laid off without fault on his or her part due to a reduction in force or diminished need for the services performed by the holder of [such] THE position and is not being removed for poor performance in the job[,];
(B) in the case of an exempt member working in an "at will" position not covered by civil service, the member is being removed from his or her position without fault on his or her part, at the initiation of his or her agency and pursuant to its absolute discretion, and is not being removed for poor performance in the job[,];
(C) the member is being removed from his or her position without fault on his or her part due to physical or mental incapacity[,];
(D) the member is being removed from his or her position without fault on his or her part and the mutual best interests of the agency and the member would be served through the removal insofar as the removal will resolve a personnel or disciplinary dispute between the agency and the member[,]; or
(E) the member is being removed from his or her position without fault on his or her part and the mutual best interests of the agency and the member would be served through the removal, the agency head so certifies in good faith, and the member represents in writing to the agency and to [the system] THIS SYSTEM that, as of the date of the certification, he or she has not been offered, has not accepted, and has not been given assurances of other employment.
(ii) An agency head's determination and a member's representations under this paragraph (1) shall be maintained as public records, open to public inspection, and are not confidential personnel or retirement records.
(J-2) RETIREMENT BENEFIT FOR REEMPLOYED RETIREES.
(1) SCOPE OF SUBSECTION.
THIS SUBSECTION (J-2) APPLIES TO A MEMBER WHO:
(I) EITHER:
(A) HAS RETIRED AND HAS COMMENCED RECEIVING OR IS ENTITLED TO RECEIVE A RETIREMENT ALLOWANCE UNDER SUBSECTION (B-1) OR (B 2) OF THIS SECTION; OR
(B) HAS COMMENCED RECEIVING A RETIREMENT ALLOWANCE UNDER SUBSECTION (B-3) OF THIS SECTION; AND
(II) IS SUBSEQUENTLY REEMPLOYED BY THE CITY AS AN EMPLOYEE.
(2) BENEFIT SUSPENDED OR POSTPONED ON REEMPLOYMENT.
ON REEMPLOYMENT WITH THE CITY, THE MEMBER'S RETIREMENT ALLOWANCE IS SUSPENDED OR POSTPONED.
(3) BENEFIT ON SUBSEQUENT RETIREMENT.
ON THE MEMBER'S SUBSEQUENT RETIREMENT, THE FOLLOWING RULES APPLY:
(I) IF THE MEMBER WAS NOT PREVIOUSLY A PARTICIPANT IN DROP OR DROP 2, AND WAS REEMPLOYED BEFORE JANUARY 1, 2015, THE MEMBER WILL RECEIVE A BENEFIT UNDER SUBSECTION (B 1)(4) OR (B-2)(1) OF THIS SECTION, AS APPLICABLE, CALCULATED TO INCLUDE YEARS OF SERVICE AFTER REEMPLOYMENT.
(II) IF THE MEMBER PARTICIPATED IN DROP OR DROP 2 AND WAS REEMPLOYED BEFORE JANUARY 1, 2015, THE MEMBER WILL RECEIVE A BENEFIT UNDER § 36B(L) OR § 36C(Q) OF THIS SUBTITLE, RESPECTIVELY.
(III) IF THE MEMBER WAS REEMPLOYED ON OR AFTER JANUARY 1, 2015, THE MEMBER WILL RECEIVE:
(A) THE RETIREMENT BENEFITS THAT HAD BEEN SUSPENDED OR POSTPONED AT THE TIME OF THE MEMBER'S REEMPLOYMENT, PLUS
(B) AN ADDITIONAL RETIREMENT BENEFIT CALCULATED UNDER SUBSECTION (B-1)(7) OF THIS SECTION, BASED SOLELY ON YEARS OF SERVICE EARNED AFTER REEMPLOYMENT, WITHOUT REGARD TO THE ELIGIBILITY REQUIREMENTS OF SUBSECTION (A-1)(3) OF THIS SECTION.
(IV) THE AGGREGATE SERVICE RETIREMENT ALLOWANCE FOR A MEMBER WHO IS INITIALLY EMPLOYED ON OR AFTER JANUARY 1, 2015, AND THEN REEMPLOYED, MAY NOT EXCEED 40% OF THE MEMBER'S AVERAGE FINAL COMPENSATION.
§ 36. Method of financing.
(b) Annuity Savings Fund.
(3) Payments from Fund.
From the Annuity Savings Fund, the Board of Trustees shall pay the accumulated contributions of a member OR FORMER MEMBER that, as provided in this § 36:
(i) are withdrawn by the member OR FORMER MEMBER; or
(ii) if [a] THE member OR FORMER MEMBER dies, are paid to the member's OR FORMER MEMBER'S DESIGNATED BENEFICIARY OR, IF THERE IS NO DESIGNATED BENEFICIARY, TO THE MEMBER'S OR FORMER MEMBER'S estate [or designated beneficiary].
(h) Percentage of compensation contributable.
(6) NOTWITHSTANDING PARAGRAPH (5) OF THIS SUBSECTION, ANY EMPLOYEE WHO FIRST BECOMES A MEMBER ON OR AFTER JANUARY 1, 2015, OR AGAIN BECOMES A MEMBER FOLLOWING REEMPLOYMENT ON OR AFTER JANUARY 1, 2015, SHALL CONTRIBUTE 6% OF HIS OR HER REGULAR COMPENSATION, BEGINNING WITH THE FIRST FULL PAYROLL PERIOD COMMENCING ON OR AFTER THE DATE THE EMPLOYEE BECOMES A MEMBER AND CONTINUING THROUGHOUT THE MEMBER'S REMAINING PERIOD OF SERVICE.
§ 36C. Deferred Retirement Option Plan 2.
(c) Eligibility and application.
(1-b) Notwithstanding § 30(6) of this subtitle, the [service credit] requirements for DROP 2 eligibility on or after July 1, 2010, are as follows:
. . . .
(B) To be eligible, a member of this System who as of June 30, 2010, has not acquired 15 or more years of service must:
1. BE A MEMBER OF THIS SYSTEM BEFORE JANUARY 1, 2015; AND
2. acquire 25 or more years of service as a contributing member of this System.
. . . .
Article 22A. Retirement Savings Plan
Subtitle 1. Definitions; General Provisions
§ 1-1. Definitions.
(E-1) CIVILIAN EMPLOYEE.
SEE "EMPLOYEE".
(E-2) CIVILIAN MEMBER.
"CIVILIAN MEMBER" MEANS A CIVILIAN EMPLOYEE WHO BECOMES A MEMBER OF THE RETIREMENT SAVINGS PLAN UNDER § 3-1(A) OF THIS ARTICLE.
(h) Employee.
(1) In general.
(I) "Employee" means A CIVILIAN EMPLOYEE OR A UNIFORMED EMPLOYEE, AS DEFINED IN THIS PARAGRAPH.
(II) "CIVILIAN EMPLOYEE" MEANS any of the following, if in a job classification that requires at least 500 hours per year:
(A) [(i)] except as provided in paragraph (2) of this subsection, any permanent officer or employee of the Mayor and City Council of Baltimore, including any officer or employee of an agency, department, unit, subdivision, or instrumentality of the Mayor and City Council; and
(B) [(ii)] any employee of the Baltimore City Public School System who is not eligible to participate in the Maryland State Retirement and Pension System.
(III) "UNIFORMED EMPLOYEE" MEANS ANY "EMPLOYEE", AS DEFINED IN CITY CODE ARTICLE 22, § 30(2), FOR PURPOSES OF MEMBERSHIP IN THE FIRE AND POLICE EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF BALTIMORE.
(2) Exclusions.
"Employee" does not include[: (i)] any "elected official", as defined in City Code Article 22, § 17A(2), for purposes of membership in the Elected Officials' Retirement System of the City of Baltimore[; or].
[(ii) any "employee", as defined in City Code Article 22, § 30(2), for purposes of membership in the Fire and Police Employees' Retirement System of the City of Baltimore.]
(3) In case ofdoubt.
(i) In all cases of doubt, the Board of Trustees determines who is an "employee" under this article.
(ii) A determination by the Board under this paragraph is final and binding on all persons, subject to the rights of appeal and review under § 2 17 {"Administrative appeal"} and § 2-18 {"Judicial and appellate review"} of this article.
(i) Hybrid member.
"Hybrid member" means [an] A CIVILIAN employee who, under City Code Article 22, § 9.1, has elected to become both a member of the Retirement Savings Plan and a Class D member of the Employees' Retirement System.
(l) Member.
(1) In general.
"Member" means an employee who is a member of the Retirement Savings Plan.
(2) Inclusions.
"Member" includes, except as otherwise specifically limited, any hybrid member, [or] non-hybrid member, OR UNIFORMED MEMBER of the Plan.
(n) Non-hybrid member.
"Non-hybrid member" means [an] A CIVILIAN employee who, under City Code Article 22, § 9.1, has elected to become a member of the Retirement Savings Plan, but not a Class D member of the Employees' Retirement System.
(q) Participating employer; Employer.
"Participating employer" or "employer" means:
(1) the Mayor and City Council of Baltimore; [and]
(2) the Baltimore City Public School System;
(3) THE BALTIMORE CITY FIRE DEPARTMENT; AND
(4) THE BALTIMORE CITY POLICE DEPARTMENT.
(U-1) UNIFORMED EMPLOYEE.
SEE "EMPLOYEE".
(U-2) UNIFORMED MEMBER.
"UNIFORMED MEMBER" MEANS A UNIFORMED EMPLOYEE WHO BECOMES A MEMBER OF THE RETIREMENT SAVINGS PLAN UNDER § 3-1(B) OF THIS ARTICLE.
(x) Vested account.
"Vested account" means the aggregate of the following vested sub-accounts:
(1) a non-hybrid member's OR UNIFORMED MEMBER'S Mandatory Employee Contribution Sub-Account;
(2) a member's Employer Contribution Sub-Account, if vested under § 7 2 {"Vesting: Employer Contribution Sub-Account"} of this article; and
(3) if applicable, a member's Rollover Contribution Sub-Account.
Subtitle 2. Administration
§ 2-2. Board composition.
(a) In general.
(1) The Board consists of [12] 15 trustees.
(2) Of these:
(i) 9 trustees serve with voting privileges ("voting trustees"); and
(ii) [3] 6 trustees serve in an advisory capacity only, without voting privileges ("non-voting trustees").
(b) Voting trustees.
(1) In general.
The 9 voting trustees are:
(i) the Director of Finance or the Director's designated representative, who must be either the Deputy Director of Finance or the Budget Director;
(ii) the City Comptroller;
(iii) the Director of Human Resources;
(iv) the City Labor Commissioner;
(v) the Executive Director of the Employees' Retirement System of the City of Baltimore;
(VI) THE EXECUTIVE DIRECTOR OF THE FIRE AND POLICE EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF BALTIMORE; and
(VII) [(vi) 4] 3 residents and registered voters of the City of Baltimore, to be appointed by the Mayor in accordance with City Charter Article IV, § 6.
(2) Appointed trustees - Qualifications.
(i) The [4] 3 voting trustees appointed under paragraph [(1)(vi)] (1)(VII) of this subsection must each have at least 10 years of relevant institutional investment management expertise.
(3) Appointed trustees - Term of office.
(i) Each of the [4] 3 VOTING trustees appointed under paragraph [(1)(vi)] (1)(VII) of this subsection serves for a term of 4 years, concurrent with the term of the Mayor.
(c) Non-voting trustees.
The [3] 6 non-voting trustees are:
(1) [The] THE president of AFSCME Local 44;
(2) [The] THE president of the City Union of Baltimore ("CUB"); [and]
(3) [The] THE president of the Managerial and Professional Society of Baltimore, Inc. ("MAPS");
(4) THE PRESIDENT OF BALTIMORE FIRE FIGHTERS, LOCAL 734;
(5) THE PRESIDENT OF LODGE NO. 3, FRATERNAL ORDER OF POLICE; AND
(6) THE PRESIDENT OF BALTIMORE FIRE OFFICES, LOCAL 964.
Subtitle 3. Plan Membership
§ 3-1. Membership mandatory.
(A) CIVILIAN EMPLOYEES.
Every CIVILIAN employee who is initially employed or reemployed by a participating employer on or AFTER July 1, 2014, must, as a condition of that employment, become either a hybrid member or a non-hybrid member of the Retirement Savings Plan.
(B) UNIFORMED EMPLOYEES.
EVERY UNIFORMED EMPLOYEE WHO IS INITIALLY EMPLOYED OR REEMPLOYED ON OR AFTER JANUARY 1, 2015, MUST, AS A CONDITION OF THAT EMPLOYMENT, BECOME A UNIFORMED MEMBER OF THE RETIREMENT SAVINGS PLAN.
§ 3-2. Commencement of participation.
(A) CIVILIAN EMPLOYEES.
(1) [(a)] Initial employment.
[An] A CIVILIAN employee initially employed by a participating employer on or after July 1, 2014, must make an election under City Code Article 22, § 9.1, and, based on that election, will commence participation as a hybrid member or a non-hybrid member of the Plan on the 180th day after the date on which his or her initial employment began.
(2) [(b)] Reemployment.
(I) [(1)] Prior employment terminated after earning vested benefit.
[An] A CIVILIAN employee who was employed by a participating employer on or before June 30, 2014, and who, after having terminated that employment and earning a vested benefit under a City retirement plan, is reemployed ON OR AFTER JULY 1, 2014, by that or another participating employer, OTHER THAN THE BALTIMORE CITY FIRE DEPARTMENT OR BALTIMORE CITY POLICE DEPARTMENT, [on or after July 1, 2014,] automatically commences participation in the Plan as a non-hybrid member on the 30th day after the date on which his or her reemployment began.
(II) [(2)] Prior employment terminated before earning vested benefit.
[An] A CIVILIAN employee who was employed by a participating employer on or before June 30, 2014, and who, after having terminated that employment before earning a vested benefit under a City retirement plan, is reemployed ON OR AFTER JULY 1, 2014, by that or another participating employer, OTHER THAN THE BALTIMORE CITY FIRE DEPARTMENT OR BALTIMORE CITY POLICE DEPARTMENT, [on or after July 1, 2014,] must make an election under City Code Article 22, § 9.1, and, based on that election, will commence participation as a hybrid member or a non-hybrid member of the Plan on the 180th day after the date on which his or her reemployment began.
(3) [(c)] Breaks in service.
A [Plan] CIVILIAN member who terminates employment with a participating employer and is subsequently reemployed by that or another participating employer, OTHER THAN THE BALTIMORE CITY FIRE DEPARTMENT OR BALTIMORE CITY POLICE DEPARTMENT, will recommence participation in the Plan as a hybrid member or a non-hybrid member, based on his or her previous election under City Code Article 22, § 9.1, on the 30th day after the date on which his or her reemployment began.
(B) UNIFORMED EMPLOYEES.
(1) INITIAL EMPLOYMENT.
A UNIFORMED EMPLOYEE INITIALLY EMPLOYED ON OR AFTER JANUARY 1, 2015, MUST COMMENCE PARTICIPATION AS A UNIFORMED MEMBER OF THE PLAN ON THE 30TH DAY AFTER THE DATE ON WHICH HIS OR HER INITIAL EMPLOYMENT BEGAN.
(2) REEMPLOYMENT.
A UNIFORMED EMPLOYEE OR CIVILIAN EMPLOYEE WHO WAS EMPLOYED BY A PARTICIPATING EMPLOYER AND IS REEMPLOYED ON OR AFTER JANUARY 1, 2015 AS A UNIFORMED EMPLOYEE AUTOMATICALLY COMMENCES OR RECOMMENCES PARTICIPATION IN THE PLAN AS A UNIFORMED MEMBER ON THE 30TH DAY AFTER THE DATE ON WHICH HIS OR HER REEMPLOYMENT BEGAN.
§ 3-3. Dual memberships precluded.
(a) In general.
Except as provided in subsection (b) of this section, a member of the Retirement Savings Plan may not, while a member of the Retirement Savings Plan, make contributions to, receive benefits from, or accrue service credit under any other City retirement plan.
(b) Exceptions.
Subsection (a) of this section does not apply to:
(1) participation by a hybrid member of the Retirement Savings Plan as a Class D member of the Employees' Retirement System; OR
(2) PARTICIPATION BY A UNIFORMED MEMBER OF THE RETIREMENT SAVING PLAN AS A MEMBER OF THE FIRE AND POLICE EMPLOYEES' RETIREMENT SYSTEM OF THE CITY OF BALTIMORE.
(c) Membership in Plan after participation in other City plan.
(1) Scope of subsection.
This subsection applies to a person who:
(i) as a member of any other City retirement plan, becomes eligible for a retirement benefit from that other plan; and
(ii) either:
(A) BECOMES A CIVILIAN EMPLOYEE UNDER 1 OR ANOTHER OF THE FOLLOWING COMNDITIONS:
1. [(A)] after terminating employment or exiting elected office and having begun to receive [that] THE benefit FROM THAT OTHER PLAN, THE MEMBER becomes [an] A CIVILIAN employee on or after July 1, 2014;
2. [(B)] after terminating active membership with the other City retirement plan on or after July 1, 2014, THE MEMBER immediately becomes [an] A CIVILIAN employee through a transfer of employment; or
3. [(C)] after terminating employment or exiting elected office, THE MEMBER becomes [an] A CIVILIAN employee on or after July 1, 2014, before beginning to receive [that] THE benefit FROM THAT OTHER PLAN; OR
(B) BECOMES A UNIFORMED EMPLOYEE UNDER 1 OR ANOTHER OF THE FOLLOWING CONDITIONS:
1. AFTER TERMINATING EMPLOYMENT OR EXITING ELECTED OFFICE AND HAVING BEGUN TO RECEIVE THE BENEFIT FROM THAT OTHER PLAN, THE MEMBER BECOMES A UNIFORMED EMPLOYEE ON OR AFTER JANUARY 1, 2015;
2. AFTER TERMINATING ACTIVE MEMBERSHIP WITH THE OTHER CITY RETIREMENT PLAN ON OR AFTER JANUARY 1, 2015, THE MEMBER IMMEDIATELY BECOMES A UNIFORMED EMPLOYEE THROUGH A TRANSFER OF EMPLOYMENT; OR
3. AFTER TERMINATING EMPLOYMENT OR EXITING ELECTED OFFICE, THE MEMBER BECOMES A UNIFORMED EMPLOYEE ON OR AFTER JANUARY 1, 2015, BEFORE BEGINNING TO RECEIVE THE BENEFIT FROM THAT OTHER PLAN.
(2) Suspension or postponement.
(i) For a person described in paragraph [(1)(ii)(A)] (1)(II)(A)1. OR (1)(II)(B)1. of this subsection, payment of his or her benefit from the other City retirement plan is suspended until the member later terminates employment.
(ii) For a person described in paragraph [(1)(ii)(B) or (c)] (1)(II)(A)2. OR 3. OR (1)(II)(B)2. OR 3. of this subsection, receipt of her or his benefit from the other City retirement plan is postponed until the member later terminates employment.
(3) Death benefits.
If a person described in paragraph (1) of this subsection dies before later terminating employment, the following death benefits must be paid:
(i) the death benefit provided for by § 9-4 {"Distributable events - Death"} of this article; and
(ii) a death benefit from the other City retirement plan in accordance with Article 22, § 48(e)(1)(ii).
Subtitle 4. Service
§ 4-1. "Service" defined.
(c) Inclusions.
Notwithstanding subsection (b) of this section, "service" includes:
(1) any period credited to a hybrid member of the Retirement Savings Plan for service as a Class D member of the Employees' Retirement System; AND
(2) ANY PERIOD CREDITED TO A UNIFORMED MEMBER OF THE RETIREMENT SAVINGS PLAN FOR SERVICE, ON OR AFTER JANUARY 1, 2015, AS A MEMBER OF THE FIRE AND POLICE EMPLOYEES' RETIREMENT SYSTEM.
Subtitle 5. Contributions
§ 5-1. Types of contributions.
The following contributions are made to the Retirement Savings Plan:
(1) Mandatory employee contributions made under§ 5-2 {"Mandatory contributions by ... members"} of this subtitle;
(2) Employer contributions made under § 5-3 {"Employer contributions"} of this subtitle; and
(3) Rollover contributions made under § 5-4 {"Rollover contributions"} of this subtitle.
§ 5-2. Mandatory contributions by non-hybrid AND UNIFORMED members.
(a) Scope of section.
This section applies only to non-hybrid members AND UNIFORMED MEMBERS of the Plan.
(b) [In general] MANDATORY CONTRIBUTIONS.
Beginning with the first full payroll period that starts on or after the date on which a non-hybrid OR UNIFORMED member commences participation in the Retirement Savings Plan and continuing through the last full payroll period ending on or before termination of employment with a participating employer:
(1) for each payroll period, the member must contribute THE FOLLOWING to the Plan:
(I) FOR A NON-HYBRID MEMBER, 5% of [the] THAT member's earnable compensation for that payroll period; AND
(II) FOR A UNIFORMED MEMBER, 4% OF THAT MEMBER'S EARNABLE COMPENSATION FOR THAT PAYROLL PERIOD.
(2) for each payroll period, the Department of Finance will cause the contribution to be deducted from the member's earnable compensation for that payroll period; and
(3) as soon as administratively practicable after the deduction is taken, the contribution will be credited to the member's Mandatory Employee Contribution Sub-Account.
§ 5-3. Employer contributions.
(b) Non-hybrid AND UNIFORMED members.
(1) For each payroll period in which a non-hybrid OR UNIFORMED member makes a mandatory employee contribution under § 5-2 {"Mandatory contributions by ... members"} of this subtitle, the member's employer must contribute to the Retirement Savings Plan an amount equal to 4% of the member's earnable compensation for that payroll period.
(2) As soon as administratively practicable after the employer contribution is made, the contribution will be credited to the [non-hybrid] member's Employer Contribution
Sub Account.
§ 5-5. Makeup contributions after military leave.
(a) Non-hybrid AND UNIFORMED members - In general.
(1) (i) To the extent required by USERRA, a non-hybrid OR UNIFORMED member returning from an unpaid leave of absence on account of military service may make a 1-time irrevocable election to make up all or part of the mandatory employee contributions the member would have been required to make under § 5 2 {"Mandatory contributions by ... members"} of this subtitle had he or she remained actively employed by a participating employer.
(ii) The non-hybrid OR UNIFORMED member's makeup contribution is based on what the member's earnable compensation would have been had the member remained actively employed.
(2) The election must:
(i) be made by filing with the Board of Trustees in the form required by the Board; and
(ii) include the amount of mandatory employee contributions that the non-hybrid OR UNIFORMED member wishes to make up and the period (not to exceed the lesser of 3 times the length of the leave of absence or 5 years) over which the contributions will be made.
(3) (i) As soon as administratively practicable after the Board receives the non-hybrid OR UNIFORMED member's election, the Department of Finance will cause the amount of makeup contributions to be deducted from the member's earnable compensation pro-rata for each payroll period during the period elected (but not beyond the last full payroll period ending on or before the member's termination of employment with an employer).
(ii) As soon as administratively practicable after each amount is deducted, the amount will be credited to the member's Mandatory Employee Contribution Sub-Account.
(4) Makeup contributions made under this subsection will be treated as being "picked up" to the same extent as mandatory employee contributions are treated as being "picked up" under § 5 2(c) {"Mandatory contributions by ... members: 'Picked-up' Status"} of this subtitle.
(d) UNIFORMED MEMBERS - EMPLOYER'S CONTRIBUTION.
(1) FOR EACH PAYROLL PERIOD IN WHICH A UNIFORMED MEMBER ELECTS TO MAKE UP MANDATORY EMPLOYEE CONTRIBUTIONS UNDER SUBSECTION (A) OF THIS SECTION, THE MEMBER'S EMPLOYER MUST MAKE A CORRESPONDING CONTRIBUTION TO THE PLAN IN AN AMOUNT EQUAL TO 100% OF THE EMPLOYEE'S MANDATORY EMPLOYEE CONTRIBUTION FOR THAT PAYROLL PERIOD (AS DETERMINED UNDER SUBSECTION (A) OF THIS SECTION).
(2) AS SOON AS ADMINISTRATIVELY PRACTICABLE AFTER THE CORRESPONDING CONTRIBUTION IS MADE, THE CONTRIBUTION WILL BE CREDITED TO THE MEMBER'S EMPLOYER CONTRIBUTION SUB-ACCOUNT.
(E) [(d)] Hybrid members.
(1) To the extent required by USERRA, the employer of a hybrid member returning from an unpaid leave of absence on account of military service must make an employer contribution to this Plan in an amount equal to the amount the employer would have been required to make, under § 5-3(c) {"Employer contributions: Hybrid members"} of this subtitle, had the retiring member remained actively employed by a participating employer.
(2) As soon as administratively practicable after the contribution is made, the contribution will be credited to the hybrid member's Employer Contribution Sub-Account.
§ 5-6. Maximum annual additions.
(a) Definitions.
(2) "Annual additions".
(i) In general.
"Annual additions" means the sum of the following amounts credited to a member's account for the Limitation Year:
(A) [Mandatory] MANDATORY employee contributions made under § 5-2 {"Mandatory contributions by ... members"} of this subtitle; and
(B) [Employer] EMPLOYER contributions made under § 5-3 {"Employer contributions"} of this subtitle.
Subtitle 6. Accounts
§ 6-1. Establishment.
(b) Sub-accounts.
(2) To each of these sub-accounts:
(i) contributions are credited under § 5 2 {"Mandatory contributions by ... members"}, § 5 3 {"Employer contributions"}, or § 5-4 {"Rollover contributions"} of this article, respectively;
. . . .
SECTION 2. AND BE IT FURTHER ORDAINED, That the catchlines contained in this Ordinance are not law and may not be considered to have been enacted as a part of this or any prior Ordinance.
SECTION 3. AND BE IT FURTHER ORDAINED, That this Ordinance takes effect on the 30th day after the date it is enacted.
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