514                             LAWS OF MARYLAND                      [CH. 308

shall not exceed in amount the average final compensation upon
which such retirement allowance was based.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1963.

Approved April 17, 1963.

CHAPTER 308
(Senate Bill 18)

AN ACT to repeal and re-enact, with amendments, Sections 113 (2)
(d), AND (2) (e) (1), and (4) (b) of Article 77 of the Annotated
Code of Maryland (1957 Edition and 1962 Supplement), title
"Public Education," subtitle "Chapter 8. Teachers' Certificates,
Salaries and Pensions," sub-heading "Teachers' Retirement
System," amending the Teachers' Retirement System laws relating

to the 1/70 guarantee and the event of certain legal process

relating to a tax claim against a member TO THE COMPUTA-
TION OF PENSIONS PAYABLE TO MEMBERS OF THE
SYSTEM.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 113 (2) (d), AND (2) (e) (l), and (4) (b) of Article 77
of the Annotated Code of Maryland (1957 Edition and 1962 Supple-
ment), title "Public Education", sub-title "Chapter 8. Teachers'
Certificates, Salaries and Pensions", sub-heading "Teachers' Retire-
ment System" be and they are hereby repealed and re-enacted, with
amendments, to read as follows:

113.

(2) (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 and (e) (1) below; 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 and (e)(1) below shall be in the amounts
computed as therein provided.

(e) (1) Notwithstanding anything in this sub-title to the contrary,
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 allow-
ance consisting of the annuity resulting from the member's regular
contributions and the pension determined in accordance with para-
graphs (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; provided, however, that if at the time of retirement the