Marvin Mandel, Governor                         723

Should the member who has elected a vested retirement allowance
request the return of his contributions or die prior to the date when
the first payment of his retirement allowance becomes normally due,
the amount of his accumulated contributions shall be returned and no
further benefit shall be due or become payable on account of his
previous membership.

195.

(10) Anything in this article to the contrary notwithstanding,
any member whose service is terminated other than by death or
retirement after he has rendered [twenty] fifteen or more years of
creditable service may elect to receive a vested retirement allowance
in lieu of the return of his accumulated contributions. The vested
retirement allowance shall be a deferred allowance commencing at
age sixty and shall consist of:

(a)    An annuity which shall be the actuarial equivalent of the
member's accumulated contributions at age sixty; and

(b)    A pension computed as provided under paragraphs (b), (c)
and (e) of Section 195(2) of this article on the basis of his creditable
service and average final compensation at the time his service is
terminated.

Should the member who has elected a vested retirement allowance
request the return of his contributions or die prior to the date when
the first payment of his retirement allowance becomes normally due,
the amount of his accumulated contributions shall be returned and no
further benefit shall be due or become payable on account of his
previous membership.

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

Approved April 22, 1970

CHAPTER 324
(House Bill 47)

AN ACT to repeal and re-enact, with amendments, Section 28 of
Article 73B of the Annotated Code of Maryland (1969 Supplement),
title "Pensions," subtitle "Employees of Municipal Corporations,"
to provide that any municipal corporation which withdraws its
officers and employees from the Employees' Retirement System, or
re-enters its officers and employees in the Employees' Retirement
System, shall be liable for all administrative costs involved in such
withdrawal or re-entry.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 28 of Article 73B of the Annotated Code of Maryland
(1969 Supplement), title "Pensions," subtitle "Employees of Munic-
ipal Corporations," be and it is hereby repealed and re-enacted,
with amendments, to read as follows: