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Session Laws, 1924
Volume 568, Page 1226   View pdf image (33K)
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1226 LAWS OF MARYLAND. [CH. 499

place opposite the name of each and every teacher liable thereto
one-tenth of the amount of the annual assessment payable by
him or her, and shall furnish forthwith a copy of such roll to
the Treasurer of the County Board of Education of Baltimore
County, and the treasurer shall deduct and retain out of the
said monthly salary due to such teacher one-tenth of the amount
of such annual assessment payable by him or her, and the
aggregate sum of such monthly assessments (excepting the
months of August and September) shall be immediately paid
by the said Treasurer to the said Board of Trustees of the
Teachers' Retirement Fund of Baltimore County.

Second. Sums received from the County Commissioners
of Baltimore County as follows: In ease the Board of Trus-
tees of the Teachers' Retirement Fund of Baltimore Coun-
ty shall deem it expedient to have an additional sum to
defray its expenses, to pay the salaries provided for herein or
to add to the Teachers' Retirement Fund, the said Board of
Trustees of the Teachers' Retirement Fund of Baltimore
County shall each year in due time prepare a full and detailed
statement of the assets of said Teachers' Retirement Fund and
the additional sum which is required to defray said expenses,
to pay said salaries or to add to the Teachers' Retirement
Fund and send the same to the County Commissioners of
Baltimore County; and the said County Commissioners of
Baltimore County are hereby authorized and empowered, in
their discretion, to appropriate such sum or any part thereof
out of any funds in hand not otherwise appropriated or
to levy for same or any part, thereof upon the taxable property
of Baltimore County; and if at any time or times said appro-
priation or levy is made and the money is in hand, the same
shall be paid over to the Board of Trustees of the Teachers'
Retirement Fund of Baltimore County and the unexpended
balance remaining in the Teachers' Retirement Fund of Bal-
timore County at the end of each fiscal year shall be added to
the permanent fund in accordance with Section 597 of this
Act. Whenever it appears that the interest derived from the
investments of the permanent fund, together with one-half of
the amount added to the permanent fund from payments into
the fund from teachers' salaries (as provided by Section 597)
will not be sufficient to meet the payments that may be due
retired teachers under this Act during the succeeding fiscal
school year, the Board of Trustees of the Teachers' Retirement
Fund of Baltimore County shall immediately submit a state-
ment of such expected deficiency, with the causes thereof, to

 

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Session Laws, 1924
Volume 568, Page 1226   View pdf image (33K)
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