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Session Laws, 1970
Volume 695, Page 1042   View pdf image
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1042                             Laws of Maryland                       Ch. 458

32A.

(a)    Any employee who is a member of such a retirement system
and who transfers to another such system as a result of an involun-
tary transfer of employment shall have both his contributions and
the employer's contributions transferred to the system which he thus
joins.
THE EMPLOYER CONTRIBUTIONS SO TRANSFERRED
SHALL BE AN AMOUNT EQUAL TO THE EMPLOYEE'S AC-
CUMULATED CONTRIBUTIONS AS DEFINED IN SUBSEC-
TION (13) OF SECTION 1 OF THIS ARTICLE, UNLESS AN
ACTUARIAL VALUATION IS REQUESTED BY THE ADMIN-
ISTRATIVE BOARD OF EITHER RETIREMENT SYSTEM, IN
WHICH CASE THE COST OF SAID VALUATION SHALL BE
BORNE EQUALLY BY THE TWO SYSTEMS. The rate of contri-
bution for any employee so transferred on or after July 1,1965 shall
be determined by his age when he joined the original system.

(b)    Any employee who has been so transferred since July 1,
1965, whose rate of contribution is reduced or increased to the rate
determined by his age when he joined the original system, shall have
any excess contributions he has made refunded to him and shall
pay the amount of any shortage of contributions.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved April 28, 1970

CHAPTER 458
(House Bill 46)

AN ACT to repeal and re-enact, with amendments, Sections 11(8)(a)
SECTIONS 11 (8) (A) AND (13) (A) of Article 73B of the Anno-
tated Code of Maryland (1967 Replacement Volume), title "Pen-
sions," subtitle "In General,"; Section 195(5)(a) of Article 77 of
said Code (1969 Supplement REPLACEMENT VOLUME), title
"Public Education," subtitle "Chapter 17. Teachers' Retirement
System"; Section 53(7) (b) of Article 88B of said Code (1964 1969
Replacement Volume), title "State Police," subtitle "State Police
Retirement System," to provide that the allowed earnings of a
disability pensioner under the State Employees', Teachers', and
State Police Retirement Systems shall be determined by the differ-
ence between his retirement allowance at the time of his retirement
and his average final compensation AND TO CHANGE THE
FORMULA FOR DETERMINING THE SERVICE RETIRE-
MENT ALLOWANCE FOR MEMBERS OF THE GENERAL
ASSEMBLY UNDER THE EMPLOYEES' SYSTEM.

Section 1. Be it enacted by the General Assembly of Maryland,
that Section 11(8) (a) SECTIONS 11 (8) (A) and (13) (A) of Ar-
ticle 73B of the Annotated Code of Maryland (1967 Replacement
Volume), title "Pensions," subtitle "In General," that Section 195(5)
(a) of Article 77 of said Code (1969 Supplement REPLACEMENT
VOLUME), title "Public Education," subtitle "Chapter 17. Teach-

 

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Session Laws, 1970
Volume 695, Page 1042   View pdf image
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