Theodore R. McKeldin, Governor 267
tion), title "Pensions," said new sub-section to be known
as Sub-section (7), to follow immediately after Sub-section
(6) of said section, and to read as follows:
11.
(7) (Supplementary Payments.) The Board of Trustees
is hereby authorized and directed, subject to the annual
appropriation of the necessary funds and in addition to
those provided in accordance with and in the same manner
as that provided in Section 11 (1), (2), (3), (b), (5) and
(6), of this Article, and subject to the conditions herein-
after provided, to make supplementary payments to any
beneficiary, or member who may be retired, from service
in the future, in addition to the benefits provided in Section
8, on the following basis:
Beneficiaries Receiving Supplementary Payments
Under $300 Increase to $600
$ 300-$ 599.99 $300
$ 600-$ 71*9.99 Increase to $900
$ 750-$ 999.99 20%
$1000-$1299.99 15%
$1300-$1635.99 10%
$1636-$1799.99 Increase to $1800
provided, however, that the Board of Trustees is hereby
authorized to adopt reasonable rules and regulations to
govern the disbursement of such supplementary payments,
which rules and regulations shall include, but need not be
limited to the following factors: (1) no beneficiary shall
be entitled to receive any such supplementary payments
unless his total creditable service equals at least five years;
(2) every beneficiary who shall receive such supplementary
payment shall first submit a statement, under oath, giving
full information regarding other sources of retirement
income, including benefits from all other retirement or
pension systems, social security benefits, and similar
sources; and (3) that the total retirement allowance to
the beneficiary and not the actuarial equivalent in the
form of any option chosen shall be used as the basis for
the determination of the supplementary payment, pro-
vided, however, that no beneficiary will receive a total
retirement allowance, together with the supplementary
payment which he received from the State of Maryland,
but not including any additional benefits which he received
from any political sub-division thereof, which is less than
that received during the year preceding July 1, 1952.
Sec. 2. And be it further enacted, That this Act shall
take effect July 1, 1952.
Approved March 28, 1952.
|
|