In this Division the following words and phrases have the following meanings:
Account balances means the balance credited to the retirement account of a participant under the retirement savings plan as of the valuation date preceding the date of distribution determined without regard to vesting, including:
(1) any participant contributions (including contributions picked up by the County);
(2) County contributions; and
(3) rollover contributions.
Board or Board of Investment Trustees means the Board of Investment Trustees established under Article III.
County means the Montgomery County Government and, when applicable, any participating agency.
County service means any period of County employment during which a participant is:
(2) on an approved leave of absence without pay on or after January 1, 2002.
Domestic partner means a person who was registered as the domestic partner of a participant with the Office of Human Resources on or before June 27, 2016 in a domestic partenrship that did not end before the participant’s death.
Employee means any eligible elected or appointed County official and any full-time or career part-time County employee.
Employee organization means any organization that:
(1) admits employees to membership;
(2) has as a primary purpose the representation of employees in collective bargaining; and
(3) is certified as an employee organization under applicable law.
Former participant means any individual with an account balance in the retirement savings plan who has ceased to be a participant.
Investment manager means a person or entity who exercises discretion to manage all or part of the assets of an institutional investor. The investment manager is a fiduciary as defined in Section 33-35. Merit System Protection Board means the Merit System Protection Board established in the Charter.
Non-public safety employee means any employee who is not a public safety employee.
Normal retirement date means the first day of the month after the month in which the participant reaches age 62.
Participant means an employee who is participating in the retirement savings plan.
Participant’s contribution account means the portion of a participant’s account balances in the retirement savings plan that is attributable to participant contributions, including contributions picked up by the County, and any gains or losses attributable to those contributions.
Plan year means the 12-month period beginning January 1 and ending on December 31 each year.
Public safety employee means any employee who is a:
(1) sworn officer of the Police Department;
(2) paid firefighter, paid fire officer, or paid rescue service worker of the Montgomery County Fire and Rescue Service;
(3) sworn deputy sheriff;
(4) correctional officer; or
(5) County employee who provides services to a correctional facility and designated as a public safety employee by the Chief Administrative Officer.
Regular earnings means gross pay for actual hours worked, including paid leave, but not including overtime, without reduction for participant contributions that are picked up under Section 33-116(a), or contributions to any County deferred compensation plan or statutory fringe benefit program. If a participant is required to take any furlough, as defined in personnel regulations under Section 33-7(b) or a collective bargaining agreement, regular earnings must include any amount the participant would have received if the participant had not been required to take any furlough. Retirement accounts means the required participant contributions account, a County contributions account, and any rollover contributions account.
Rollover contributions means that portion of a participant's account balances in the retirement savings plan that is attributable to any assets transferred or rolled over to the retirement savings plan from another eligible retirement plan as defined in the Internal Revenue Code Section 402(c). No after-tax contributions may be transferred or rolled over into the retirement savings plan.
Valuation date means the last business day of March, June, September, and December of each plan year, and any other date the Board establishes in a uniform and nondiscriminatory manner for determining the fair market value of the assets of the retirement savings plan. (1994 L.M.C., ch. 13, § 2; , § 1; , § 1; , § 1; , § 1; , § 1; , § 1; , § 1; , §1.)
Editor's note—2003, ch. 3, § 2, states: Rule of Interpretation. The amendments made by Section 1 of this Act must be interpreted to comply with requirements stated in letters issued on December 11, 2002, and January 14, 2003, by the Internal Revenue Service to the County regarding the continued qualification of County employee retirement plans. 2003, ch. 3, § 3, states, in part: (g) The amendments made by Section 1 of this Act to Code Section 33-113(d) take effect July 1, 2002. 
