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§ 23-212. Contributions by members

MD State Pers & Pens Code § 23-212 (2019) (N/A)
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(a)    Except as otherwise provided in 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)    The contribution rate of a member who is subject to the contributory pension benefit under Part II of this subtitle is 2% of the member’s earnable compensation.

(c)    The contribution rate of a member who is subject to the Alternate Contributory Pension Selection under Part III of this subtitle is:

(1)    3% of the member’s earnable compensation received from July 1, 2006 to June 30, 2007, both inclusive;

(2)    4% of the member’s earnable compensation received from July 1, 2007 to June 30, 2008, both inclusive;

(3)    5% of the member’s earnable compensation received from July 1, 2008 to June 30, 2011, both inclusive; and

(4)    7% of the member’s earnable compensation received on or after July 1, 2011.

(d)    The contribution rate of a member who is subject to the reformed contributory pension benefit under Part IV of this subtitle is 7% of the member’s earnable compensation.

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