PUBLIC EDUCATION. 2475

1920, ch. 509, sec. 7.

99. The retirement board shall adopt mortality tables for the retire-
ment system hereby created, and, except as herein otherwise provided,
shall determine what rates of interest shall be established in connection
with such tables or otherwise under the provisions hereof. Such board
may modify such mortality tables or adopt others, and may change rates
of interest once established, unless otherwise provided herein, but not so
as to impair the vested rights hereunder of any member of the retirement
association, unless such modifications or changes shall be assented to by
such member. Said board shall establish and maintain, under competent
actuarial advice, a complete system of records and accounting.

1920, ch. 509, sec. 8.

100. The annuities hereinafter provided shall be paid out of a fund
to be known as the annuity fund, which shall be constituted as follows:

(1) Each member of the retirement association shall pay into the
annuity fund, under regulations to be prescribed by the retirement board,
such percentage of his salary as may be determined by said board within
the limits hereinafter prescribed. The rate of assessment for each school
year, which shall not be more than five per cent of each member's salary,
shall be established by the retirement board on or before the first day of
April in each year, and notice thereof shall be given all members of the
retirement association in such manner as the retirement board shall pre-
scribe. Such rate of assessment shall be uniform, at any given time, for
all members of the retirement association; provided, however, that no
member shall in any one year pay into said fund less than twenty-four
dollars nor more than one hundred dollars.

(2) Any member of the retirement association, who for thirty years
shall have paid into said fund his regular assessments, as above provided,
shall be exempt from further assessments; but such member may thereafter,
if he so elects, continue to pay his assessments into said fund.

(3) The annuity fund shall also consist of such amounts as may be
appropriated from time to time by the General Assembly on estimates
submitted by the retirement board, subject to approval by the State Board
of Education, hereinafter provided. Such estimates shall provide for an
appropriation sufficient to enable the board to credit annually to each
member of the retirement association a sum equal to at least one-half of
his contribution to the annuity fund and the additional allowance pro-
vided in Section 105 of this Article.

Provided, however, that the State shall not be called upon to pay into
said annuity fund more than fifty dollars in any year on account of the
contribution of any one member of said retirement association.

1920, ch. 509, sec. 9.

101. The contributions made by the members of the retirement asso-
ciation to the annuity fund hereinbefore created, shall be credited as made
to such members severally in individual accounts up to the time of retire-
ment, and at the same time each member so contributing shall be credited