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having filed a joint income tax return, for such tax. Respondent
also concedes that if we decide the issue in dispute in
petitioners' favor, then the Transfer Refund distribution
qualifies for forward averaging under the more favorable 10-year
method, rather than the less favorable 5-year method utilized by
petitioners on their income tax return for 1990.
FINDINGS OF FACT
Some of the facts have been stipulated and they are so
found. Petitioners resided in Ellicott City, Maryland, at the
time their petition was filed with the Court.
Petitioner C. Merritt Pumphrey (petitioner) was the Clerk of
the Circuit Court for Howard County, Maryland. He was originally
appointed in 1966 to complete the term of the former clerk and
was thereafter elected to the position. Petitioner held office
until 1990, when he was defeated in the general election on
November 7, 1990. Petitioner remained in office until November
30, 1990, at which time his successor took the oath and assumed
the duties of the office.
As the clerk of a circuit court, petitioner was a member of
the Employees' Retirement System of the State of Maryland (the
Retirement System) until he elected to transfer to the Employees'
Pension System of the State of Maryland (the Pension System).
Petitioner elected to transfer from the Retirement System to the
Pension System on November 8, 1990, the day after he lost the
November 1990, general election. Petitioner's election to
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