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Session Laws, 1947
Volume 411, Page 1720   View pdf image (33K)
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1720 LAWS OF MARYLAND. [CH. 696

tion then or at any time prior to the age of 60 be equal to
or greater than his average final compensation at retirement,
his retirement allowance shall cease, he shall again become a
member of the Retirement System, and he shall contribute
thereafter at the same rate he paid prior to disability. Any-
thing in this Article to the contrary notwithstanding, any
prior service certificate on the basis of which his service was
computed at the time of his retirement shall be restored to full
force and effect, and in addition, upon his subsequent retire-
ment he shall be credited with all the service as a member
creditable to him at the time of retirement; but should he be
restored to membership after the attainment of age 50, his
pension upon subsequent retirement shall not exceed the pen-
sion which he was receiving immediately prior to his last
restoration to membership and the pension that may have
accrued to him as a new member on account of service since
his last restoration to membership, provided that the total
pension on his subsequent retirement shall not exceed the rate
per centum he would have received had he remained in service
during the period of his prior retirement.

10.

(1).

(a) The Annuity Savings Fund shall be a fund in which
shall be accumulated contributions from the compensation of
members to provide for their annuities. Upon the basis of
such tables as the Board of Trustees shall adopt and regular
interest, the actuary of the retirement system shall determine
for each member the proportion of earnable compensation
which, when deducted from each payment of his prospective
compensation earnable prior to his attainment of the
age of 60 and accumulated at regular interest until his
attainment of said age, shall be computed to provide at that
time an annuity equal to the pension to which he will be en-
titled at that age on account of his service as a member. Such
proportion of compensation shall be computed to remain con-
stant.

(b) The proportion so computed for a member of the age of
59 shall be applied to a member who attains a greater age
before he becomes a member of the retirement system. The
Board of Trustees shall certify to the head of each depart-
ment, and the head of each department shall cause to be de-
ducted from the salary of each member on each and every
payroll of such department for each and every payroll period,
the proportion of earnable compensation of each member so
computed, except that the percentage rate of contribution of
any member who was contributing prior to July 1, 1947, on

 

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Session Laws, 1947
Volume 411, Page 1720   View pdf image (33K)
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