HERBERT R. O'CONOR, GOVERNOR. 593

the total commuted benefits under said workmen's compensa-
tion or similar law is less than the pension reserve on the
benefits otherwise payable from funds provided by the State of
Maryland under this Article, then the present value of the
commuted payments shall be deducted from the pension re-
serve and such benefits as may be provided by the pension re-
serve so reduced shall be payable under the provisions of this
Article.

6. Administration.

BOARD OF TRUSTEES.

(1) The General administration and responsibility for the
proper operation of the retirement system and for making
effective the provisions of this Article are hereby vested in a
Board of Trustees which shall be organized immediately after
three of the trustees provided for in this section have qualified
and taken the oath of office.

(2) The Board shall consist of five trustees as follows:

(a) The State Budget Director, Ex-officio.

(b) The State Comptroller, Ex-officio.

(c) The State Employment Commissioner/Ex-officio.

(d) The State Treasurer, Exofficio,

(e) One (1) member of the Retirement System who shall
be appointed for a term of four (4) years by the Board of
Public Works.

(3) If a vacancy occurs in the office of a trustee, the va-
cancy shall be filled for the unexpired term in the same man-
ner as the office was previously filled.

(4) The trustees shall serve without compensation, but they
shall be reimbursed from the Expense Fund, provided under
Section 8 of this Article, for all necessary expenses that they
may incur through service on the Board.

(5) Each trustee shall, within ten days after his appoint-
ment or election, take an oath of office that so far as it de-
volves upon him he will diligently and honestly administer
the affairs of the said Board, and that he will not knowingly
violate or willingly permit to be violated any of the provisions
of the law applicable to the retirement system. Such oath
shall be subscribed to by the member making it and certified
by the officer before whom it is taken, and immediately filed
in the office of the Secretary of State.

(6) Each trustee shall be entitled to one vote in the Board.
A majority of said Board shall constitute a quorum for the
transaction of any business, the exercise of any power, or the
performance of any duty authorized or imposed by this
. Article.