§ 1.401. Howard County Retirement Plan.

(a)

Plan Established. There is a Howard County Retirement Plan, set forth in sections 1.402 through 1.484 of this subtitle.

(b)

Withdrawal from Maryland Systems.

(1)

The County Council authorizes the withdrawal from the Maryland Systems of individuals who are eligible to participate in the Howard County Retirement Plan and who consent to the withdrawal.

(2)

The County Council directs that:

(i)

Each withdrawing individual's accumulated contributions be credited to the individual; and

(ii)

The total reserves resulting from previous contributions by Howard County allocable to the withdrawing individuals be transferred from the Maryland Systems to the Howard County Retirement Plan.

(3)

The County Council also directs that the County shall continue to make contributions to the Maryland Systems, as provided by law, on behalf of the individuals who chose not to withdraw from the Maryland Systems.

(C.B. 21, 1995)