§ 28-204. Contributions by members

Latest version.

(a) In general. -- Except as provided in subsection (b) of this section, a member's contribution rate is 5% of the part of the member's earnable compensation that exceeds the taxable wage base for each year.

(b) Transferees from Employees' Retirement System. -- The contribution rate for a member who has transferred from the Employees' Retirement System is 7% of the member's earnable compensation.

HISTORY: An. Code 1957, art. 73B, § 10-207; 1994, ch. 6, § 2.

                    
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