Members who leave employment, but do not retire from the Commission have the following options:
Vested members can receive a guaranteed retirement benefit payable on what would have been their normal retirement date.
Non-vested members are not entitled to a retirement benefit. Members who choose to keep contributions in the ERS, and later return to employment with the Commission are credited with the initial period of credited service.
Members can withdraw accumulated contributions upon separation from employment. This decision is irrevocable and terminates entitlement to any benefits from the ERS. The ERS is required to withhold estimated income tax and an additional excise tax may apply.
Members may be able to transfer credited service to other eligible governmental retirement systems in the State of Maryland. This may require the concurrent transfer of accumulated contributions to the new system. Eligibility is based upon the Plan provisions of the new retirement system. Please submit all inquiries to the new retirement system.
Members can roll over contributions to another qualified plan or an individual retirement account, without penalty or immediate income taxability.
Refer to the Plan Document or the Summary Plan Description for further information and vesting requirements.