WM. PRESTON LANE, JR., GOVERNOR. 627

one-seventieth of his average final compensation multi-
plied by the number of years of service certified on his
prior service certificate;

(d) Provided, however, that if at the time of retire-
ment the member has not attained the age of sixty, the
pension and additional pension, if any, shall be payable
at retirement and shall be the actuarial equivalent at that
time of a pension and additional pension payable at the
age of sixty in the amounts computed as provided in (b)
and (c) above; or, such member may elect at the time of
retirement to have his service retirement allowance de-
ferred to commence upon the attainment of the age of
sixty, in which event the annuity shall be the actuarial
equivalent of his accumulated contributions at that age,
and the pension or pensions under (b) and (c) above shall
be in the amounts computed as therein provided.

102.

(1) (d) In addition to the contributions deducted
from compensation as hereinbefore provided, subject to
the approval of the Board of Trustees, any member may
redeposit in the Annuity Savings Fund by a single pay-
ment or by an increased rate of contribution an amount
equal to the total amount which he previously withdrew
therefrom as provided in this sub-title, or any part thereof;
or any member may deposit therein by a single payment
or by an increased rate of contribution an amount com-
puted to be sufficient to purchase an additional annuity,
which, together with his prospective retirement allowance,
will provide for him a total retirement allowance of not
to exceed one-half of his average final compensation at
age 60 or after 30 years of creditable service, whichever
would first occur. Such additional amounts so deposited
shall become a part of his accumulated contributions,
except in the case of disability retirement, when they shall
be treated as excess contributions returnable to the mem-
ber in cash or as an annuity of equivalent actuarial value.
The accumulated contributions of a member withdrawn
by him, or paid to his estate or to his designated benefi-
ciary in event of his death as provided in this sub-title,
shall be paid from the Annuity Savings Fund. Upon the
retirement of a member his accumulated contributions
shall be transferred from the Annuity Savings Fund to
the Annuity Reserve Fund.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1949.

Approved April 22, 1949.