Maryland § 29-408
Full text of Maryland Maryland Code § 29-408, with citation guidance and answers to common questions.
§ 29-408.
(a) This section applies only to an allowance based on creditable service earned on or after July 1, 2011, for a former member, retiree, or surviving beneficiary of a deceased member, former member, or retiree of:
(1) the Correctional Officers’ Retirement System;
(2) the Employees’ Pension System;
(3) the Law Enforcement Officers’ Pension System;
(4) the State Police Retirement System; or
(5) the Teachers’ Pension System.
(b) A cost–of–living adjustment payable under this section shall be a compound cost–of–living adjustment computed in accordance with § 29–402(d)(2) of this subtitle.
(c) A cost–of–living adjustment payable under this section shall be subject to a cost–of–living rate cap of:
(1) 2.5% if, for the calendar year ending December 31 in the preceding fiscal year, the total investment performance of the several systems equals or exceeds the assumed rate of investment return established by the Board of Trustees in accordance with § 21–125(c) of this article and in effect as of December 31 of the preceding fiscal year; or
(2) 1% if, for the calendar year ending December 31 in the preceding fiscal year, the total investment performance of the several systems does not equal or exceed the assumed rate of investment return established by the Board of Trustees in accordance with § 21–125(c) of this article and in effect as of December 31 of the preceding fiscal year.
Frequently Asked Questions About Maryland § 29-408
What does Maryland Code § 29-408 cover?
Section 29-408 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 29-408?
A common citation format is "Maryland Code § 29-408" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 29-408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.