Fire and Police Employees’ Retirement System - Interest, Service Credits, Death Benefits, Direct Deposit, and Technical Corrections For the purpose of repealing certain obsolete and obsolescent provisions; changing the definition of regular interest for valuation purposes; clarifying the crediting of military service under certain circumstances; modifying the calculation of the cost of purchasing and transferring prior system service, non-credited City service, former Maryland Police Corps service, and service earned for employment covered under a former non-City pension; expanding the definition of “minor child” for certain purposes; allowing certain spousal beneficiaries age 70 and over to remarry without penalty of losing benefits; allowing new beneficiary elections and survivorship option elections within certain time periods; requiring that, after a certain date and subject to certain exceptions, periodic benefit payments be made electronically; defining certain terms; providing for special effective dates; and generally relating to the Baltimore City Fire and Police Employees’ Retirement System.

Committee

City Council

Requested by

Fire and Police Employees' Retirement System

Introduced

March 25, 2019

Passed

May 31, 2019

Enactment no.

19-254