Maryland Code, STATE PERSONNEL AND PENSIONS 29-111
Terms Used In Maryland Code, STATE PERSONNEL AND PENSIONS 29-111
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) Except as provided in § 24-401.1(k) of this article, the Board of Trustees shall grant a special disability retirement allowance to a member if:
(1) the member is totally and permanently incapacitated for duty arising out of or in the course of the actual performance of duty without willful negligence by the member; and
(2) the medical board certifies that:
(i) the member is totally incapacitated, either mentally or physically, for the further performance of duty;
(ii) the incapacity is likely to be permanent; and
(iii) the member should be retired.
(c) Except as provided in subsection (d) of this section, a special disability retirement allowance equals the lesser of:
(1) the member’s average final compensation; or
(2) the sum of:
(i) an annuity that is the actuarial equivalent of the member’s accumulated contributions at retirement; and
(ii) a pension equal to two-thirds of the member’s average final compensation.
(d) (1) This subsection applies to a member who is at least normal retirement age.
(2) A special disability retirement allowance equals the greater of:
(i) a normal service retirement allowance; or
(ii) a special disability retirement allowance computed in accordance with subsection (c) of this section.