1590                            LAWS OF MARYLAND                      [CH. 921

CHAPTER 920
(House Bill 137)

AN ACT to repeal and re-enact, with amendments, Section 14 (1) (e)
of Article 73B of the Annotated Code of Maryland (1957 Code and
1962 Supplement 1964 SUPPLEMENT), title "Pensions," SUB-
TITLE "IN GENERAL," relating to additional contributions by
members.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 14 (1) (e) of Article 73B of the Annotated Code of Mary-
land (1957 Code and 1962 Supplement 1964 SUPPLEMENT), title
"Pensions," SUBTITLE "IN GENERAL," be and it is hereby re-
pealed and re-enacted, with amendments, to read as follows:

14.

(1) (e) Subject to the approval of the Board of Trustees, in addition
to the contributions deducted from compensation as hereinbefore pro-
vided, any member may redeposit in the Annuity Savings Fund by a
single payment or by an increase INCREASED rate of contribution
an amount equal to the total amount which he previously withdrew
therefrom as provided in this Article, or any part thereof; or any
member may deposit therein by a single payment or by an increased
rate of contribution an amount computed to be sufficient to purchase
an additional annuity which, together with his prospective retirement
allowance, will provide for him a total retirement allowance not in
excess of two-thirds of his average final compensation at the age of
60 or after 30 years of creditable service, whichever would first occur.
In addition to the contributions hereinbefore provided, subject to
such conditions as may be established by the Board of Trustees, any
member may, in accordance with a contract with his employer, have
further contributions at a fixed percentage of two percent or more,
but not to exceed twenty percent of his compensation made on his
account, either by a reduction in his salary or in lieu of an increase in
his compensation. THE COST OF ADMINISTERING ANNUITIES
QUALIFYING UNDER SECTION 403 (B) OF THE INTERNAL
REVENUE CODE AS AMENDED FROM TIME TO TIME,
SHALL BE PROVIDED FROM THE FUNDS INVESTED IN SUCH
ANNUITIES. Such additional amounts so deposited shall be-
come a part of his accumulated contributions except in the case of
disability retirement, when they shall be treated as excess contribu-
tions returnable to the member in cash or as an annuity of equivalent
actuarial value.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1965.

Approved May 4, 1965.

CHAPTER 921
(House Bill 205)

AN ACT to add a new Subsection (d) to Section 83-82 of the Code
of Public Local Laws of Prince George's County (1963 Edition)