(a) Except as provided in subsection (b) of 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 for a member who has transferred from the Employees' Retirement System is 7% of the member's earnable compensation.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.