§ 16-232.02. Supplemental Retirement Benefit for General Schedule employees.

(a)

The Prince George's County Supplemental Pension Plan for General Schedule Employees (hereinafter referred to as the "Plan"), as established by CR-37-1990, and amended from time to time, is hereby recognized.

(b)

The Board of Trustees of the Plan shall have five voting members. One of the voting members of the Board of Trustees shall be elected by the members of the Plan. The remaining members of the Board of Trustees shall be designated and appointed by the County Executive. No more than one appointed official who is a member of the Plan may manage or serve as a member of the Board of Trustees.

(c)

The Board of Trustees shall ensure that an annual benefit and account statement shall be made available to each member upon request, and shall make available to each member appropriate actuarial or other available financial information. On or before December 1 of each year, the Board of Trustees shall certify to the County Council the rates to be used to determine the amounts to be paid into the funds of the Plan during the next fiscal year.

(d)

(1) The cost of funding the supplemental retirement benefit will be shared by the employee and the County through regular contributions each pay period. The employee shall contribute, through payroll deduction, an amount equal to one half the cost of providing this benefit; provided, however, that the employee contribution rate shall not exceed a rate of four and forty-five hundredths percent (4.45%) of base salary, unless otherwise provided by legislative act. The contributions made under this paragraph shall be based on an actuarial determination of the amounts that are required to preserve the integrity of the funds of the Plan and shall include a contribution computed to amortize any unfunded liability over a period of not more than thirty (30) years.

(2)

Notwithstanding the employer and employee contribution rates set forth in paragraph 16-232.02(d)(1), the County shall contribute the full cost of providing the increase in the benefit accrual rate from eight tenths of one percent (0.8%) to one percent (1.0%) and the increase in the maximum number of years of creditable service from 25 to 30 years.

(e)

Supplemental Retirement Benefits. The benefits to be paid under the Plan shall consist of the following:

(1)

Normal Retirement Benefits;

(2)

Early Retirement Incentive Benefits;

(3)

Discontinued Service Benefits; and

(4)

Death Benefits.

Such benefits shall be payable in such amounts, at such times, and to such participants and beneficiaries as set forth in the Plan, as amended through January 1, 2002.

(f)

Prohibited Benefits.

(1)

The Plan shall not pay discontinued service benefits to a participant whose separation from service is caused by:

(A)

A request by an appointing authority of an employee or appointed official for the resignation of the employee or appointed official at the expiration of a term of the appointing authority; or

(B)

The expiration of a term of an elected official who is ineligible to be elected for an additional term because of term limits.

(2)

All discontinued service benefits that are prohibited under Subsection (f)(1), that an individual who was an elected or appointed official while a member of the Plan is eligible to receive, shall be terminated.

(3)

The Plan shall not make cash payments to any member of the Plan of more than 50% of that member's accrued unused sick leave (determined in accordance with Sections 16-221 and 16-221.02 of the Prince George's County Code).

(g)

The benefits under the Plan may not be amended except by an ordinance enacted by the County Council.

(CB-101-1994; CB-90-1995; CB-107-1995; CB-62-2001)

Editor's note— CB-101-1994 provided that the Trust Agreement be amended to reflect an increase in the membership of the Board of Trustees from three to five members. CB-101 further provided that the Current Expense Budget of the County provide for the transfer of funds to the Supplemental Retirement Pension Plan to eliminate the unfunded liability and to maintain the Plan on an actuarially sound basis and in accordance with generally accepted accounting principles.

CR-41-1995 approved the following amendment to Salary Schedules A (2462 and 2735), B, C, C-O, D, G, H, S-O, W, X, and Z: "Any employee separating from County service on or after July 6, 1995, shall not be eligible for the Discontinued Service Benefit."

CR-77-1995 approved election procedures to be used to select the employee member of the Board of Trustees of the Prince George's County Supplemental Pension Plan for General Schedule Employees.