In its most recent meeting, Maryland’s Joint Committee on Pensions reviewed legislation proposed by the Board of Trustees of the Maryland State Retirement and Pension System.
Under current law, members of the State Retirement and Pension System may receive additional creditable service for unused sick leave at the time of their retirement. One of the Board’s proposals this year is to clarify the definition of sick leave to make sure that employers participating in the State Retirement and Pension System are not allowing employees to convert other types of leave into sick leave prior to reporting unused sick leave to the Agency.
Another proposal involves the combining of prior service credit with the Reformed Contributory Pension Benefit. In that area, the Board recommends clarifying the rate that will be used to determine the amount that a member must pay to combine prior service.
For more information, read the Joint Committee on Pensions 2014 Interim Report (DRAFT).