Terms Used In Maryland Code, STATE PERSONNEL AND PENSIONS 23-302

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) Subject to subsections (b), (c), and (d) of this section, a member is entitled to eligibility service for periods of employment while a member of the Employees’ Pension System or the Teachers’ Pension System.

(b) The Board of Trustees may not allow more than 1 year of service credit for a calendar year.

(c) (1) If a member completes at least 500 hours of employment while a member in any fiscal year, the member is entitled to 1 year of eligibility service.

(2) Except in the first and last fiscal years or except as provided in subsection (d) of this section, a member may not receive any eligibility service for a fiscal year in which the member completes less than 500 hours of employment while a member.

(3) In the first and last fiscal years, if a member completes less than 500 hours of employment while a member, the Board of Trustees shall prorate the eligibility service based on the number of hours worked.

(d) If a member who is subject to the contributory pension benefit, the Alternate Contributory Pension Selection, or the Reformed Contributory Pension Benefit completes less than 500 hours of employment while a member, the Board of Trustees shall prorate the member’s eligibility service based on the number of hours worked.