1962 Laws of Maryland Ch. 691
CHAPTER 691
(House Bill 44)
AN ACT to repeal and re-enact, with amendments, Section 3(1) of
Article 73B of the Annotated Code of Maryland (1967 Replace-
ment Volume), title "Pensions," subtitle "In General"; Sections
192(1) and 198(6) (c) of Article 77 of said Code (1969 Supple-
ment REPLACEMENT VOLUME), title "Public Education,"
subtitle "Chapter 17. Teachers' Retirement System"; Section
51(1) of Article 88B of said Code (1964 1969 Replacement Vol-
ume), title "State Police," subtitle "State Police Retirement Sys-
tem," to provide that new State employees, teachers, and State
Policemen may join their respective Retirement Systems at any
time within the first two years of employment, but must join at the
end of that period; to provide that the rate of contribution shall be
determined by his age at the time he joins the system and will not
be reduced for reason of service prior to joining; to permit the
purchase of credit for service before joining by paying contribu-
tions plus interest only at the time he retires PRIOR TO RETIRE-
MENT.
Section 1. Be it enacted by the General Assembly of Maryland,
That Section 3(1) of Article 73B of the Annotated Code of Maryland
(1967 Replacement Volume), title "Pensions," subtitle "In General,"
be and it is hereby repealed and re-enacted, with amendments, to
read as follows:
Article 73B.
3.
The membership of the retirement system shall consist of the
following:
(1) Any person who shall become an employee as herein defined
after the date of establishment [shall] may become a member of the
retirement system at any time within the first two years of his
employment, but if he has not previously joined must become a
member at the end of that period as a condition of employment, and
shall not be entitled to receive any pension or retirement allowance
from any other pension or retirement system if that pension or
retirement allowance is supported wholly or in part by the State of
Maryland, anything to the contrary notwithstanding, except benefits
from social security. The rate of contribution of the employee shall
be determined by his age at the time he actually joins the system,
and will not be reduced for reason of service prior to joining, pro-
vided, however, that any employee may purchase credit for service
before joining by paying the contributions due plus interest. Such
purchase may be made only at time of AT ANY TIME PRIOR TO
retirement.
Sec. 2. And be it further enacted, That Sections 192(1) and
198(6) (c) of Article 77 of said Code (1969 Supplement REPLACE-
MENT VOLUME), title "Public Education," subtitle "Chapter 17.
Teachers' Retirement System," be and they are hereby repealed and
re-enacted, with amendments, to read as follows:
|
|