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Session Laws, 1949
Volume 590, Page 851   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 851

system. The Board of Trustees shall engage the services of
such persons as are at the date of establishment of the retire-
ment system, administering the Employees7 Retirement Sys-
tem of the State of Maryland to the extent that the same may
be practicable. The compensation of all persons engaged by
the Board of Trustees, and all other expenses of the Board
necessary for the operation of the retirement system, shall be
paid at such rates and in such amounts as the Board of
Trustees shall approve, and in accordance with appropriations
made by the General Assembly.

(10) The Board of Trustees shall keep in convenient form
such data as shall be necessary for actuarial valuation of the
various funds of the retirement system, and for checking the
experience of the system.

(11) The Board of Trustees shall keep a record of all its
proceedings, which shall be open to public inspection. It shall
publish annually a report showing the fiscal transactions
of the retirement system for the preceding fiscal year, the
amount of the accumulated cash and securities of the system,
and the last balance sheet showing the financial condition
of the retirement system by means of an actuarial valuation
of the assets and liabilities of the system.

LEGAL ADVISER

(12) The Attorney General of the State shall be the legal
adviser of the Board of Trustees.

MEDICAL BOARD

(13) The Board of Trustees shall designate a Medical Board
to be composed of three physicians not eligible to participate
in the retirement system. If required, other physicians may
be employed to report on special cases. The Medical Board shall
arrange for and pass upon all medical examinations required
under the provisions of this sub-title, shall investigate all
essential statements and certificates by or on behalf of a
member in connection with an application for disability retire-
ment, and shall report in writing to the Board of Trustees
its conclusions and recommendations upon all the matters
referred to it.

ACTUARY

(14) The Board of Trustees shall designate an actuary
who shall be the technical adviser of the Board of Trustees
on matters regarding the operation of the funds created by
the provisions of this sub-title, and shall perform such other
duties as are required in connection therewith.

 

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Session Laws, 1949
Volume 590, Page 851   View pdf image (33K)
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