600 LAWS OF MARYLAND. [CH. 377

service would be sufficient to provide for the payment of any
death benefit or pension payable on his account. The rate
per centum so determined shall be known as the "normal con-
tribution" rate. After the accrued liability contribution has
ceased to be payable, the normal contribution rate shall be
the rate per centum of the earnable compensation of all mem-
bers obtained by deducting from the total liabilities of the
Pension Accumulation Fund the amount of the funds in hand
to the credit of that fund and dividing the remainder by one
per centum of the present value of the prospective future
salaries of all members as computed on the basis of the mor-
tality and service tables adopted by the Board of Trustees,
and regular interest. The normal rate of contribution shall
be determined by the actuary after each valuation.

(d) Immediately succeeding the first valuation the actuary
engaged by the Board of Trustees shall compute the rate per
centum of the total annual earnable compensation of all mem-
bers which is equivalent to four per centum of the amount
of the total pension and death benefit liability on account
of all members and beneficiaries which is not dischargable
by the aforesaid normal contribution made on account of such
members during the remainder of their active service. The
rate per centum originally so determined shall be known as
the "accrued liability contribution" rate.

(e) The total amount payable in each year to the Pension
Accumulation Fund shall be not less than the sum of the
rates per centum known as the normal contribution rate and
the accrued liability contribution rate, of the total compensa-
tion earnable by all members during the preceding year;
provided, however, that the amount of each annual accrued
liability contribution shall be at least three per centum greater
than the preceding annual accrued liability payment, and that
the aggregate payment by the State shall be sufficient, when
combined with the amount in the fund, to provide the pensions
and other benefits payable out of the fund during the year
then current.

(f) The accrued liability contribution shall be discontinued
as soon as the accumulated reserve in the Pension Accumula-
tion Fund shall equal the present value, as actuarially com-
puted and approved by the Board of Trustees, of the total
liability of such fund less the present value, computed on the
basis of the normal contribution rate then in force, of the
prospective normal contributions to be received on account
of persons who are at that time members.

(g) All pensions and benefits in lieu thereof, with the
exception of those payable on account of members who receive
no prior service allowance, and all lump sum death benefits
on account of death in active service payable from contribu-