(a) In conformity with § 401(a)(8) of the Internal Revenue Code, any forfeiture of benefits by a member or former member of the several systems may not be used by the Board of Trustees to pay benefit increases.
(b) Any forfeiture of benefits by a member shall be used to reduce employer contributions.
Structure Maryland Statutes
Title 20 - Definitions and General Provisions
Subtitle 2 - General Provisions
Section 20-201 - Scope of Division
Section 20-202 - Determining an Actuarial Equivalent
Section 20-203 - Duplication of Benefits Prohibited
Section 20-204 - Average Final Compensation -- Retirement Systems
Section 20-205 - Average Final Compensation -- Member of Pension Systems on or Before July 1, 2011
Section 20-205.1 - Average Final Compensation -- Member of Pension Systems on or After July 1, 2011
Section 20-206 - Credit for Unused Sick Leave
Section 20-207 - Limit on Amount Used to Determine Retirement Allowance
Section 20-208 - Allowance in Excess of Limit on Benefit Accruals Prohibited