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Session Laws, 1963
Volume 671, Page 514   View pdf image (33K)
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516                             LAWS OF MARYLAND                      [CH. 309

Supplement), title "Pensions," subtitle "In General," be and they are
hereby repealed and re-enacted, with amendments, to read as follows:

11.

(3) (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 ac-
tuarial 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 de-
ferred 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 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 pay-
able; except that as to any such member who contributed on the basis
of retirement at age 65 under the provisions of Section 14 (1) (b)
and as to any elected or appointed official or employee who waived
the payment of such contributions as provided in [Section] Sections
3(5) and 9(7)
[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 [,]; pro-
vided, that if at the time of retirement the member has not attained
the age of sixty, the additional pension equal to the difference between
such allowance shall be reduced on an actuarial equivalent basis;
provided, further, that the additional pension so provided herein
shall not apply to any member whose accumulated contributions have
been reduced by way of an execution; garnishment, attachment, or

any other process whatsoever instituted by the Federal, State, County
or Municipal Government for tax claim (but the enactment of this

clause is not recognition of any right to institute any such process

as a tax claim against the member.

(5) (b) A pension which, together with his annuity, shall provide
a total retirement allowance equal to one seventieth of his average
final compensation multiplied by the number of years of his creditable
service, if such retirement allowance exceeds one quarter of his

average final compensation; otherwise, a pension which, together
with his annuity, shall provide a total retirement allowance equal to

one quarter of his average final compensation, provided, however,
that no such allowance shall exceed one seventieth of his average
final compensation multiplied by the number of years which would be

creditable to him were his service to continue until the attainment

of age 60 [.] except that as to any member whose accumulated con-

tributions have been reduced by way of an execution, garnishment,

attachment, or any other process whatsoever institution by the Fed-

 

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Session Laws, 1963
Volume 671, Page 514   View pdf image (33K)
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