PUBLIC EDUCATION 2939

the retirement system, and from which shall be paid all the expenses neces-
sary in connection with the administration and operation of the system.
Annually the Board of Trustees shall estimate the amount of money not
in excess of three-tenths of one per centum of the payroll of members which
shall be deemed necessary to be paid into the Expense Fund during the
ensuing year to provide for the expense of operation of the retirement
system and such amount shall be paid to the Expense Fund for this pur-
pose.

(6) State Contribution.

(a) On or before the first day of November next preceding each regular
meeting of the General Assembly of Maryland the Board of Trustees shall
certify to the State Superintendent of Schools, the amounts which will
become due and payable during the biennium next following each of the
funds of the retirement system together with a statement of the percentage
of the payroll of all members, which is equivalent to the total amount.
To this amount the State Superintendent of Schools shall add an amount
equal to such percentage of the payroll of teachers who are members of
local retirement funds in the cities and counties of the State, who are
excluded from membership in this retirement system as provided in Section
97 of this Article, but not in excess of the percentage certified for this
retirement system, as such respective cities or counties may have con-
tributed during the biennium preceding, to their own retirement or pension
system on account of their teachers, which latter amount shall be paid to
such cities and counties; the amounts thus ascertained shall be included by
the State Superintendent of Schools in his budget estimate and shall be
included in the budget bill which is submitted to the General Assembly.

The State Superintendent of Schools shall certify one-quarter of the
amount so ascertained for each year of the biennium to the State Comp-
troller on or before the last day of December, February, May and Septem-
ber. The Comptroller shall on or before the first day of January, March,
June and October draw a warrant or warrants on the Treasurer of the
State of Maryland for the respective amounts due the State retirement
system and the various cities and counties of the State which operate local
retirement or pension systems for teachers. On the receipt of the warrant
of the Comptroller, the Treasurer of the State of Maryland shall immedi-
ately transfer to the State retirement system the amounts due and shall pay
to the Treasurer of each city or county operating a local retirement or
pension plan covering teachers the amount due.

(b) To cover the requirements of the system for the period prior to the
first day of October, nineteen hundred and twenty-nine, there is hereby
authorized for the Pension Accumulation Fund and for the Expense Fund
the use of any funds that may be provided therefor in an amendment or
supplement to the Budget, or in a supplementary appropriation bill.

1927, ch. 344, sec. 100.

103. (Benefits to Teachers Retired Under Provisions of Chapter 447
of the Acts of 1920.) All pensions to teachers retired under Chapter 447
of the Acts of 1920 in force on the date this retirement system is established
shall be continued and paid thereafter from the Pension Accumulation
Fund created by this sub-title. The residue of any appropriation made for
the payment of the pensions of teachers retired under Chapter 447 of the
Acts of 1920 shall be transferred and credited to the Pension Accumula-
tion Fund created by this sub-title.