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Session Laws, 1960
Volume 641, Page 26   View pdf image (33K)
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26 LAWS OF MARYLAND [CH. 13

eral", amending the laws concerning optional allowances under the
State Employees' Retirement System and relating generally to the
choice of optional allowances by members of that System and the
choice of a death benefit in lieu of a retirement allowance com-
puted like an optional benefit by the spouse of a member of that
System.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 11(9) of Article 73B of the Annotated Code of Mary-
land (1957 Edition), title "Pensions", sub-title "In General", be and
it is hereby repealed and re-enacted, with amendments, to read as
follows:

11.

(9) Death benefit. —Upon the receipt of proper proofs of the death
of a member in service, and provided that no benefit is payable under
the provisions of Section 11 (11) (b) of this Article
, there shall be
paid to such person as [he] the member shall have nominated by
written designation duly executed and filed with the board of trustees,
otherwise to his estate:

(a) [His] The member's accumulated contributions; and

(b) If the member has one or more years of creditable service, an
amount equal to fifty percentum of [his] the member's average final
compensation.

SEC. 2. And be it further enacted, That Section 11(11) of Article
73B of the Annotated Code of Maryland (1959 Supplement), title
"Pensions", sub-title "In General", be and it is hereby repealed and
re-enacted, with amendments, to read as follows:

11.

(11) Optional allowances. —(a) In lieu of the disability or serv-
ice allowances payable under the aforesaid provisions, any member
may, prior to the first retirement allowance payment normally due,
elect a retirement allowance of equivalent actuarial value in one
of the optional forms set out below. The election of the option shall
be made on a form provided for that purpose and shall
be filed with the board of trustees. Should a member die prior to
the expiration of thirty days after the date of the filing. of such
election or prior to thirty days after retirement, such election shall
be void and of no effect, and the benefits payable on his account
shall be the same as though his election had not been filed and he
had died in active service. A member who has elected an optional
benefit may change such election by due notice to the board of
trustees, but no change may be made after the first payment of his
allowance becomes normally due.

Option 1. If the member dies before he has received in annuity
payments the present value of his annuity as it was at the time of his
retirement, the balance shall be paid to such person, if any, as he
shall nominate by written designation duly acknowledged and filed
with the board of trustees, otherwise to his estate; or

Option 2. Upon his death, his reduced retirement allowance shall
be continued throughout the life of and paid to such person as he


 

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Session Laws, 1960
Volume 641, Page 26   View pdf image (33K)
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