Md. Code Regs. 22.02.01.01

Current through Register Vol. 51, No. 24, December 2, 2024

Section 22.02.01.01 - Definitions

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) Effective Date of Retirement.

(a) "Effective date of retirement" means the effective date of the commencement of:

(i) A retirement allowance;

(ii) A vested allowance;

(iii) An allowance payable on the death of an individual employed as a member; or

(iv) For a member of a deferred retirement option program, participation in the deferred retirement option program.

(b) "Effective date of retirement" does not mean the date of a change of beneficiary by a retiree, or the date of commencement of an allowance to a beneficiary of a retiree.

(2) "Post-reform COLA rate" means the assumed cost-of-living adjustment rate under Regulation .03 or .04 of this chapter, for creditable service that is subject to State Personnel and Pensions Article, § 29-408, Annotated Code of Maryland.

(3) "Pre-reform COLA rate" means the assumed cost-of-living adjustment rate under Regulation .03 or .04 of this chapter, for creditable service that is not subject to State Personnel and Pensions Article, § 29-408, Annotated Code of Maryland.

(4) "System's actuary" means the actuary designated by the Board of Trustees in accordance with State Personnel and Pensions Article, § 21-125, Annotated Code of Maryland.

Md. Code Regs. 22.02.01.01

Regulation .01 amended effective 43:16 Md. R. 901, eff. 8/15/2016; amended effective 48:3 Md. R. 94, eff. 2/8/2021