602 LAWS OF MARYLAND. [CH. 377

system. The amount thus ascertained shall be included in
the budget bill which is submitted to the General Assembly.

The Board of Trustees shall certify one-quarter of the
amount so ascertained for each year of the biennium to the
State Comptroller on or before the last day of December,
February, May and September. The Comptroller shall, on or
before the first day of January, March, June and October,
draw a warrant or warrants on the State Treasurer for the
respective amounts due the retirement system. On the receipt
of the warrant of the Comptroller, the State Treasurer shall
immediately transfer to the retirement system the amounts
due.

9. Benefits to Employees Retired Under Provisions of this
Article Prior to the Establishment of this Retirement System.
All pensions payable to former employees retired under the
provisions of this Article and in force on the date this system
is established shall be continued and paid hereafter from the
Pension Accumulation Fund at the full amounts stipulated
under said Article. The residue of any appropriation made
for the payment of such pension shall be transferred and
credited to the Pension Accumulation Fund. Any additional
amounts required to continue such pensions shall be provided
by an increase in the accrued liability contribution otherwise
payable to the Pension Accumulation Fund.

10. Guaranty. The creation and maintenance of reserves
in the Pension Accumulation Fund, the maintenance of
annuity reserves and pension reserves as provided for, and
regular interest creditable to the various funds as provided in
Section 8 of this Article, and the payment of all pensions,
annuities, retirement allowances, refunds and other benefits
granted under the provisions of this Article and all expenses
in connection with the administration and operation of this
retirement system, are hereby made obligations of the State.
All income, interest and dividends derived from deposits and
investments authorized by this Article shall be used for the
payment of the said obligations of the State. Any amounts
derived therefore which, when combined with the regular
amounts otherwise contributable by the State, exceed the
amount required to provide said obligations, shall be used to
reduce the regular appropriations otherwise required.

11. Exemption from Execution. 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, or any other right
accrued or accruing to any person under the provisions of this