Law Enforcement Officers' Pension System - Benefits

SB 329 modifies Maryland's Law Enforcement Officers' Pension System by: (1) allowing officers to stop making pension contributions after accruing service credit equivalent to the maximum retirement benefit; (2) changing retirement calculations to use 2% of final pay for service before July 1, 2025, and 2.5% for service after that date, while increasing the maximum benefit cap from 65% to 70% of final pay; and (3) updating eligibility for the Deferred Retirement Option Program (DROP) to require 25-32 years of actual employment (replacing "service credit" language). These changes directly affect current and future law enforcement officers in Maryland's pension system. The bill takes effect July 1, 2025.