J. MILLARD TAWES, GOVERNOR 25
|
|
|
|
|
|
Beneficiaries Receiving
|
|
|
|
|
under Sec. 113 of
|
Length of
|
Supplementary
|
|
|
Teachers' Retirement Law
|
Service
|
Payments
|
|
|
$ 900
|
25 years
|
[$350] $480
|
|
|
1200
|
25 years
|
[300] 420
|
|
|
1500
|
25 years
|
[250] 360
|
|
|
1800
|
25 years
|
[200] 300
|
|
|
2100
|
25 years
|
[150] 240
|
|
|
2400
|
25 years
|
[100] 180
|
|
|
2700
|
25 years
|
[50] 120
|
|
|
3000
|
25 years
|
[0 and] 60
|
|
|
3300
|
25 years
|
0 and
|
|
|
|
|
|
|
(d) Which prorata computation is made by the use of the fol-
lowing formula:
in which formula "b" represents "benefits provided by Sec. 113" and
"c. s. " represents "years of creditable service, " except that the ratio
of "c. s. divided by 25" shall not be applied to any beneficiary who
was, or member who may be retired for disability having less than
25 years of creditable service, and
(e) Provided that the retirement allowance used in calculating
the supplementary payment shall be the total benefits provided in
Sec. 113 of this article except that it shall not be based on any
optional benefit chosen by the beneficiary or member, and
(f) Provided that such beneficiary or member, excepting any
person who may retire for reasons of disability, is not eligible to
receive benefits from the federal old age and survivors' insurance
system; but this subsection shall not be construed to affect or bar
any person's right to receive supplementary payments under this
article or any other laws of this State, if such person was receiving
such payments prior to June 1, 1958.
SEC. 2. And be it further enacted, That this Act shall take
effect July 1, 1960.
Approved March 2, 1960.
CHAPTER 13
(Senate Bill 15)
AN ACT to repeal and re-enact, with amendments, Sections 11(9) and
11(11) of Article 73B of the Annotated Code of Maryland (1957
Edition and 1959 Supplement), title "Pensions", sub-title "In Gen-
EXPLANATION: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill
|