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Session Laws, 1947
Volume 411, Page 1639   View pdf image (33K)
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basis under the laws of this State or any political sub-
division thereof.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That four new Sections be and they are hereby added to
Article 73B of the Annotated Code of Maryland (1943
Supplement), title "Pensions", to be under sub-title
"Transfers between Retirement Systems", said new sec-
tions to be known as Sections 25 to 28, inclusive, and to
follow immediately after Section 24 of said Article, and
to read as follows:

Transfers Between Retirement Systems.

25. Any person who is a member of any retirement
system, which is being operated on an actuarial basis, with
contributions being made during the active service of new
members which are computed to be sufficient to provide
the reserves needed to cover the retirement benefits payable
on their account, either under the laws of this State or
under the laws of any political sub-division of this State,
may transfer his membership to any other such retirement
system upon accepting office or employment which makes
it possible or mandatory for him to participate in such
other system and if such acceptance of office or employ-
ment would make it impossible for him to continue as a
contributing member of the retirement system of which
he has been a member.

26. Any such person desiring so to transfer his mem-
bership shall notify the administrative head of the retire-
ment system of which he is a member, prior to or at the
time of his withdrawal therefrom, of his intention to enter
the other retirement system, and shall request a refund
of the total amount of the accumulated contributions stand-
ing to his credit in the annuity savings fund, or other cor-
responding fund, of the system of which he is a member.
Upon his entry into the other retirement system and the
deposit of such accumulated contributions in the annuity
savings fund or other corresponding fund thereof, within
one year of the date of such refund, he shall receive prior
service credit in the system to which he has transferred
for all service rendered prior to January 1, 1926, if any,
provided he was in the service at any time during the
calendar year 1925, and membership service credit for all
continuous service since January 1, 1926, since he last
became a member of the retirement system of which he
was a member, or for the service rendered since January


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Session Laws, 1947
Volume 411, Page 1639   View pdf image (33K)
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