§ 5-1-230. RETURN OF ACCUMULATED CONTRIBUTIONS AND TERMINATION BENEFIT.

(a)

(1)

This subsection applies to a member who began service before July 1, 2007.

(2)

Should a member cease to be an employee except by death or by retirement under the provision of this subtitle, the member shall be paid the amount of the member's accumulated contributions. Anything in this subtitle to the contrary notwithstanding, any current member who has completed five (5) or more years of membership service at the time the member's service is terminated or any member who has completed at least one (1) four-year term as the County Executive may elect to receive, in lieu of the return of the member's accumulated contributions, a deferred retirement allowance to commence at the age of sixty (60) if the member is a member in Group 3, at the age of fifty-five (55) if the member is a member in Group 4, and at age sixty (60) if the member is a member as defined in § 5-1-217(a) of this subtitle and the member's service was terminated on or after July 1, 2007, which shall consist of an annuity provided by the member's accumulated contributions with interest to attainment of said commencement age and a pension equal to the pension computed in accordance with § 5-1-214 of this subtitle on the basis of the member's creditable service and average final compensation at the date the member's service is terminated.

(b)

(1)

This subsection applies to a member who begins service on or after July 1, 2007.

(2)

Should a member cease to be an employee except by death or by retirement under the provisions of this subtitle, the member shall be paid the amount of the member's accumulated contributions. Anything in this subtitle to the contrary notwithstanding, any current member who has completed ten (10) or more years of creditable service at the time the member's service is terminated or any member who has completed at least one (1) four-year term as the County Executive may elect to receive, in lieu of the return of the member's accumulated contributions, a deferred retirement allowance to commence at the age of sixty-seven (67) if the member is a member in Group 3 and at the age of sixty (60) if the member is a member in Group 4, which shall consist of an annuity provided by the member's accumulated contributions with interest to attainment of said commencement age and a pension equal to the pension computed in accordance with § 5-1-214 of this subtitle on the basis of the member's creditable service and average final compensation at the date the member's service is terminated.

(c)

If a member requests the return of the member's accumulated contributions or dies prior to the commencement of the member's allowance, the amount of the member's accumulated contributions with interest to the date of refund shall, as the case may be, be returned to the member or paid to such persons as the member shall have nominated by written designation, duly executed and filed with the Board of Trustees, otherwise to the member's estate, and no further benefit shall be due or become payable on account of the member's previous membership.

(1988 Code, § 23-60) (Bill No. 32-03, § 1, 6-30-2002, 7-1-2004; Bill No. 42-07, § 2, 6-6-2007; Bill No. 47-07, § 2, 7-1-2007; Bill No. 48-07, § 2, 7-1-2007)