2940 ARTICLE 77

1927, ch. 344, sec. 101.

104. (Guaranty.) The creation and maintenance of reserves in the
Pension Accumulation Fund, the maintenance of annuity reserves and
pension reserves as provided for, and regular interest creditable to the
various funds as provided in Section 102, of this Article, and the payment
of all pensions, annuities, retirement allowances, refunds and other bene-
fits granted under the provisions of this sub-title, and all expenses in con-
nection with the administration and operation of this retirement system
are hereby made obligations of the State of Maryland. All income, interest
and dividends derived from deposits and investments authorized by this
sub-title shall be used for the payment of the said obligations of the said
State. Any amounts derived therefore which, when combined with the
regular amounts, otherwise contributable by the State of Maryland as
provided under the provisions of this sub-title, exceed the amount required
to provide such obligations, shall be used to reduce the regular appropria-
tions otherwise required.

1927, ch. 344, sec. 102.

105. (Assignments Prohibited.) The right of a person to a pension,
an annuity, or a retirement allowance, to the return of contributions, the
pension annuity or retirement allowance itself, any optional benefit or
death benefit, any other right accrued or accruing to any person under
the provisions of this sub-title, and the moneys in the various funds created
by this sub-title, shall be unassignable.

1927, ch. 344, sec. 103.

106. (Protection Against Fraud.) Any person who shall knowingly
make any false statement or shall falsify or permit to be falsified any
record or records of this retirement system in any attempt to defraud
such system as a result of such act shall be guilty of a misdemeanor, and
shall be punishable therefor under the laws of the State of Maryland.
Should any change or error in the records result in any member or bene-
ficiary receiving from the retirement system more or less than he would
have been entitled to receive had the records been correct, the Board of
Trustees shall correct such error, and as far as practicable, shall adjust
the payments in such manner that the actuarial equivalent of the benefit
to which such member or beneficiary was correctly entitled shall be paid.

1927, ch. 344, sec. 104.

107. (Limitation on Membership.) No other provision of law in
any other statute which provides wholly or partly at the expense of the
State of Maryland for pensions or retirement benefits for teachers of the
said State, their widows, or other dependents, shall apply to members or
beneficiaries of the retirement system established by this sub-title, their
widows or other dependents.

1927, ch. 344, sec. 105.

108. (Constitutionality.) If any section or part of any section of this
sub-title is declared to be unconstitutional, the remainder of the sub-title
shall not thereby be invalidated. All provisions of the law inconsistent
with the provisions of this sub-title are hereby repealed to the extent of
such inconsistency.