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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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STATE PERSONNEL AND PENSIONS |
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DIVISION II. PENSIONS |
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TITLE 22. EMPLOYEES' AND TEACHERS' RETIREMENT SYSTEMS |
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SUBTITLE 4. SERVICE RETIREMENT BENEFITS |
§ 22-405. Governor and surviving spouse
Latest version.
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(a) Retirement allowance. -- Subject to subsection (d) of this section, if a Governor serves for at least:
(1) one full term, the Governor is entitled to receive a retirement allowance equal to one-third of the annual salary received by the current Governor in office; or
(2) two full terms, the Governor is entitled to receive a retirement allowance equal to one-half of the annual salary received by the current Governor in office.
(b) Same -- Suspension. -- The Board of Trustees shall suspend a retirement allowance received under this section during any period when the former Governor is employed by a unit of State government.
(c) Same -- Age limitation. -- Except as provided in subsection (d) of this section, a Governor may not receive a retirement allowance under this subsection until the Governor is at least 55 years old.
(d) Disability retirement allowance. --
(1) A Governor who leaves office because of physical or mental disability, under Article II, Section 6(c) of the Maryland Constitution, shall immediately receive a disability retirement allowance equal to the amount the Governor would have received had the Governor completed the current term and become 55 years old.
(2) If the physical or mental disability ends before the former Governor becomes 55 years old, the Board of Trustees shall stop the disability retirement allowance, but the former Governor shall receive the normal retirement allowance at age 55 if otherwise qualified.
(e) Allowance for surviving spouse -- Retired Governor. -- On the death of a former Governor, the surviving spouse of the former Governor shall receive an allowance that is equal to one-half of the former Governor's retirement allowance.
(f) Same -- Death while in office. -- On the death of a Governor while in office, the deceased Governor's surviving spouse shall receive one-half of the retirement allowance that the deceased Governor would have been entitled to receive had the deceased Governor completed the current term and become 55 years old.