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Session Laws, 1962
Volume 651, Page 44   View pdf image (33K)
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44 LAWS OF MARYLAND [CH. 7

and provided that any beneficiary, or member who may be retired
from service in the future, having less than 25 years of creditable
service shall have his supplemental payment reduced in proportion
to the ratio of the number of years of creditable service divided by
25, and provided that no such reduction shall be made for any
beneficiary or member who may be retired in the future who was
retired for disability, and

(c) Which is computed pro rata on the basis of the following con-
densed table:

Beneficiaries Receiving

under Section 113 of Length of Supplementary
Teachers' Retirement Law Service Payments

$ 900 25 years $480" $ 700

1200 25 years; 420" 600

1500 25 years 360" 525

1800 25 years 300: 450

2100 25 years ' 240" 375

2400 25 years " 180" 300

2700 25 years '" 120" 225

3000 25 years 60; 150

3300 25 years; 0 and 75

3600 25 years O and

(d) Which pro rata computation is made by the use of the following
formula:

C$38003 $3600 — b c. s.

[5] 4 25

in which formula "b" represents "benefits provided by Section 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 Section
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 persons'
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,

(G) PROVIDED THAT IN THE CASE OF ANY PERSON WHO
HAS RETIRED AS A MEMBER OF ANY LOCAL RETIREMENT
OR PENSION SYSTEM OPERATED BY ANY PARTICULAR
CITY OR COUNTY OF THIS STATE FOR TEACHERS TO WHICH
SYSTEM THE STATE'S CONTRIBUTION FOR BENEFITS IS
PAID PURSUANT TO THE PROVISIONS OF SECTION 116 (6)
(A) OF THIS ARTICLE, THE SUPPLEMENTARY PAYMENTS
AUTHORIZED BY THE PROVISIONS OF THIS SECTION SHALL


 

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Session Laws, 1962
Volume 651, Page 44   View pdf image (33K)
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