Marvin Mandel, Governor                       1849

thirty years of creditable service, the additional pension equal to the
difference between such allowance shall be reduced on an actuarial
equivalent basis., UNLESS THE MEMBER HAS ATTAINED THE
AGE OF FIFTY-FIVE AND HAS RENDERED AT LEAST
THIRTY YEARS OF CREDITABLE SERVICE.

(2)    The annuity provided as a result of voluntary contributions
permitted under this subtitle and its amendments shall be payable
and shall not be used in determining the additional pension, if any,
payable under this subdivision, nor in determining the disability
pension under Section 195, subsection (4).

(3)    The payment of the additional pensions provided herein shall
be provided for in the budget bill submitted to the General Assem-
bly by the Governor and on receipt of the warrant of the
Comptroller, annual payments shall be made by the Treasurer
of the State of Maryland to the aforesaid retirement system of the
amounts required to meet the current disbursements for such addition-
al pensions. To this amount shall be added an amount equal to such
additional pensions for teachers who are members of the employees'
retirement system of the City of Baltimore, had they been members
of the Teachers' Retirement System of Maryland which amount shall
be paid to the mayor and city council of Baltimore.

(4)    Any member of the system who made additional voluntary
contributions under Section 198 (d) of this subtitle, prior to July
1, 1962, may withdraw the additional amount of contributions,
with interest, provided that refund is requested within one year
after July 1, 1962.

(5)    The provisions of subsection (2) (e) herein apply to members
who retired prior to June 30, 1962, as well as those who retire after
that date.

11.

(3) Allowance for service retirement.—Upon retirement for serv-
ice a member shall receive a service retirement allowance which shall
consist of:

(a)    An annuity which shall be the actuarial equivalent of his
accumulated contributions at the time of retirement; and

(b)    A pension which shall be equal to one one-hundred and
twentieth of his average final compensation multiplied by the num-
ber of years of his service since he last became a member; and

(c)    If he has a prior service certificate in full force and effect,
an additional pension which shall be equal to one sixtieth of his
average final compensation multiplied by the number of years of
service certified on his prior service certificates;

(d)    Provided, however, that if the member who has not attained
the age of sixty at the time of retirement has rendered less than
[thirty-five] thirty years of creditable service, the pension and addi-
tional pension, if any, shall be payable at retirement and shall be
the actuarial equivalent at that time of a pension and additional
pension payable at the age of sixty or at the age at which [thirty-
five] thirty years of creditable service would have been rendered
had the member continued in service, whichever occurs first, in
the amounts computed as provided in (b) and (c) above and (e)