ALBERT C. RITCHIE, GOVERNOR. 635

100. Benefits to Teachers Retired Under Provisions of Chap-
ter 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 Ac-
cumulation Fund created by this subtitle. 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 trans-
ferred and credited to the Pension Accumulation Fund created
by this subtitle.

101. Guaranty

The creation and maintenance of reserves in the Pension Ac-
cumulation Fund, the maintenance of annuity reserves and pen-
sion reserves as provided for, and regular interest creditable to
the various funds as provided in Section 99, of this Article, and
the payment of all pensions, annuities, retirement allowances,
refunds and other benefits granted under the provisions of this
subtitle, and all expenses in connection with the administration
and operation of this retirement system are hereby made obli-
gations of the State of Maryland. All income, interest and
dividends derived from deposits and investments authorized by
this subtitle shall foe used for the payment of the said obliga-
tions of the said State. Any amounts derived therefore which,
when combined with the regular amounts, otherwise contribut-
able by the State of Maryland as provided under the provisions
of this subtitle, exceed the amount required to provide such ob-
ligations, shall be used to reduce the regular appropriations
otherwise required.

102. 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 subtitle, and the moneys in the various
funds created by this subtitle, shall be unassignable.

103. 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 beneficiary receiving from the retirement
system more or less than he would have been entitled to receive