36                                Laws of Maryland                        [Ch. 27

cedures, arrangements and details of this transfer and of the duties
of the Board of Trustees of the Teachers' Retirement System and
of the Board of Trustees of the Employees' Retirement System
of the City of Baltimore.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 192(3a) be and the same is hereby added to Article
77 of the Annotated Code of Maryland (1969 Replacement Volume),
title "Public Education," subtitle "Chapter 17. Teachers' Retirement
System," to follow immediately after Section 192(3) thereof, and
to read as follows:

192.

(3a) Anything to the contrary notwithstanding, effective July 1,
1971, all members and/or beneficiaries of the Employees' Retirement
System of the City of Baltimore who in the absence of the City
System would have qualified for membership or benefits hereunder
shall become members and/or beneficiaries of this State System.

Commencing July 1, 1971, the Board of Trustees of this Retire-
ment System and the Board of Trustees of the Employees' Retire-
ment System of the City of Baltimore shall proceed to implement as
soon as practicable thereafter, and before July 1, 1972, the adminis-
trative processes necessary for orderly transition of the membership
arrangements provided under this subsection. Within these time
limits the Board of Trustees shall arrange for the commencement of
the payment of retirement allowances and supplementary payments
to transferred beneficiaries in receipt of benefits in such amounts as
are payable from the City System, consistent with the provisions of
this subsection and Article. Provided, however, that the System
from which each member or beneficiary is transferred has the abso-
lute obligation for and shall pay any amount to which the member or
beneficiary would have been entitled under the provisions of the
local system as they exist as of July 1, 1971, to the extent, if any,
that amount exceeds what is provided under this Article.

The rate of contribution payable under this Retirement System by
each transferee who has not retired shall be determined on the basis
of his age and time of entry into the City System.

The assets transferable from the City System to the State System
shall be determined on a basis satisfactory to both Boards. The
transfer shall include the actuarial value of the unexpended balance
of the State's contributions to the City System with interest to the
date of transfer, the accumulated contributions of active members,
and the actuarial value of the annuities payable to beneficiaries as
of the date of transfer. The assets shall be transferred on or before
June 30, 1972.

In every case the effective date of the transfer and any adjust-
ments related thereto shall be as of June 30, 1971.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved April 6, 1971.