J. MILLARD TAWES, Governor 355

(d) Provided, however, that if at the time of retirement the
member has not attained the age of sixty, the pension and additional
pension, if any, shall be payable at retirement and shall be the
actuarial equivalent at that time of a pension and additional pension
payable at the age of sixty in the amounts computed as provided
in (b) and (c) above; or, such member may elect at the time of
retirement to have his service retirement allowance deferred to
commence upon the attainment of the age of sixty, in which event
the annuity shall be the actuarial equivalent of his accumulated
contributions at that age, and the pension or pensions under (b)
and (c) above shall be in the amounts computed as therein provided.

(e) (1) Notwithstanding anything in this sub-title to the con-
trary, if at the time of retirement after June 30, 1962, a member is
age sixty or older, or has 30 years of service and the retirement
allowance consisting of the annuity resulting from the member's
regular contributions and the pension determined in accordance
with paragraphs (b) and (c) above is less than one-seventieth of
average final compensation for each year of creditable service, an
additional pension equal to the difference between such allowance
shall be payable; except that as to any such member who con-
tributed on the basis of retirement at age 65 under the provisions
of Section 14 (1) (b) and as to any elected or appointed official who
waived the payment of such contributions as provided in Section
6 (c), the additional pension so provided herein shall be reduced
by the actuarial equivalent of those contributions which he had not
paid, with interest to date of retirement.

(2) The annuity provided as a result of voluntary contributions
permitted under this sub-title and its amendments shall be payable
and shall not be used in determining the additional pension, if any,
payable under this sub-division, nor in determining the disability
pension under Section 11, Sub-section (5).

(S) The payment of the additional pensions provided herein shall
be provided for in the Budget Bill submitted to the General As-
sembly by the Governor and on receipt of the warrant of the Comp-
troller, annual payments shall be made by the Treasurer of the State
of Maryland to the aforesaid Retirement System of the amounts
required to meet the current disbursements for such additional
pensions.

(4) The additional pensions provided herein shall be provided
for the Employees of Municipal Corporations upon the approval
of the Legislative Body of any such Municipal Corporation par-
ticipating in the Employees' Retirement System.

(5) Any member of the System who made additional voluntary
contributions under Section 14 (1) (e) of this Article prior to the
effective date of this Act may withdraw the additional amount of
contributions with interest, provided that refund is requested within
one year after the effective date of this Act.

(6) THE PROVISIONS OF SUB-SECTION (3) (E) HEREIN
APPLY TO MEMBERS WHO RETIRED PRIOR TO JUNE 30, 1962,
AS WELL AS TO THOSE WHO RETIRE AFTER THAT DATE.

14. (1) (e) Subject to the approval of the Board of Trustees,