928                             LAWS OF MARYLAND                       CH. 495

CHAPTER 495
(Senate Bill 26)

AN ACT to repeal and re-enact, with amendments, Section 116(6)
of Article 77 of the Annotated Code of Maryland (1965 Replace-
ment Volume), title "Public Education," subtitle "Teachers' Cer-
tificates, Salaries, and Pensions," subheading "Teachers' Retire-
ment System," amending the laws governing the Teachers' Retire-
ment System, which provides that the State's contribution to a
subdivision AFTER A CERTAIN DATE would be the actuarial
cost to such subdivision of funding the same level of benefits as are
provided under the Teachers' Retirement System, and providing
that after July 1, 1968, any teacher newly employed or joining the
Retirement System must join the State Teachers' Retirement Sys-
tem AND MAKING PROVISION FOR CERTAIN TEACHERS
EMPLOYED BY THE CITY OF BALTIMORE.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 116(6) of Article 77 of the Annotated Code of Mary-
land (1965 Replacement Volume), title "Public Education," subtitle
"Teachers' Certificate CERTIFICATES, Salaries and Pensions," sub-
heading "Teachers' Retirement System," be and it is hereby repealed
and re-enacted with amendments, to read as follows:

116.

(6) (a) On or before the first day of November next preceding
each regular meeting of the General Assembly of Maryland the
"Teachers' Certificates, Salaries and Pensions," subheading "Teach-
BOARD OF TRUSTEES SHALL CERTIFY TO THE STATE SU-
PERINTENDENT OF SCHOOLS, the amounts which will become
due and payable during the [biennium] year next following each of
the funds of the Retirement System together with a statement of the
percentage of the payroll of all members, which is equivalent to the
total amount. To this amount the State Superintendent of Schools
shall add an amount equal to such percentage of the payroll of
teachers who are members of local retirement funds in the cities and
counties of the State, who are excluded from membership in this
Retirement System as provided in Section 110 of this Article, [but
(UNTIL JUNE 30, 1969,) not in excess of the percentage certified
for this Retirement System, as such respective cities or counties may
have contributed during the biennium preceding, to their own retire-
ment or pension system on account of their teachers, which latter
amount shall be paid to such cities and counties;] AND BEGINNING
ON JULY 1, 1969, as is determined by the Actuary of this Retirement
System on the basis of an actuarial valuation of the cost to such sub-
division of funding the same benefits as are provided under this
Retirement System, which latter amount shall be paid to such cities
and counties; the amounts thus ascertained shall be included by the
State Superintendent of Schools in his Budget estimate and shall be
included in the Budget Bill which is submitted to the General
Assembly.

The State Superintendent of Schools shall certify one-quarter of
the amount so ascertained for each year of the biennium THE YEAR
to the State Comptroller on or before the last day of December, Feb-