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Session Laws, 1962
Volume 651, Page 346   View pdf image (33K)
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346 LAWS OF MARYLAND [CH. 91

marries. If the widow beneficiary has died or has remarried, as in
this section specified, payments to any surviving child &P children
shall terminate when the youngest thereof
HE reaches the age of 18
years. If a pension is paid under this section, it shall in no event be
less than $75 per month in the aggregate. A widow, child, or children
resulting from any marriage contracted after the retirement of the
member are not eligible for any payments under the provisions of this
sub-title. For the purposes of this section the remuneration of a retired
member shall be computed as it was in the year immediately pre-
ceding the granting of the members application for Retirement. With
respect to a member who dies while in service the word "remunera-
tion" shall be computed as it was in the year immediately preceding
the date of his death.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1962.

Approved March 23, 1962.

CHAPTER 91
(House Bill 91)

AN ACT to repeal and re-enact, with amendments, Section 113 (2)
of Article 77 of the Annotated Code of Maryland (1957 Edition),
title "Public Education", sub-title "Chapter 8. Teachers' Certifi-
cates, Salaries, and Pensions", sub-heading "Teachers' Retirement
System", to authorize payment of additional pensions to certain
members of the State Teachers' Retirement System.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 113 (2) of Article 77 of the Annotated Code of Mary-
land (1957 Edition), title "Public Education", sub-title "Chapter 8.
Teachers' Certificates, Salaries, and Pensions", sub-heading "Teach-
ers' Retirement System", be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

113.

(2) Upon retirement for service a member shall receive a service
retirement allowance which shall consist of:

(a) An annuity which shall be the actuarial equivalent of his
accumulated contributions at the time of retirement; and

(b) A pension in addition to his annuity which shall be equal to
one one-hundred and fortieth of his average final compensation
multiplied by the number of years of his service since he last became
a member; and

(c) If he has a prior service certificate in full force and effect,
an additional pension which shall be equal to one-seventieth of his

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.


 

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Session Laws, 1962
Volume 651, Page 346   View pdf image (33K)
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