Marvin Mandel, Governor                         895

BY AN AMOUNT EQUAL TO THE BENEFIT THE BENE-
FICIARY [OR MEMBER] IS ENTITLED TO RECEIVE FROM
THE FEDERAL OLD AGE AND SURVIVORS' SYSTEM. SUCH
REDUCTION, HOWEVER, SHALL NOT BE GREATER THAN
THE TOTAL AMOUNT OF THE SUPPLEMENTAL PAYMENT
FOR WHICH SAID BENEFICIARY IS ELIGIBLE.

(G) WHEN DETERMINING THE AMOUNT OF SUPPLE-
MENTARY PAYMENTS, THE BOARD OF TRUSTEES SHALL
NOT CONSIDER ANY ADDITIONAL VOLUNTARY CONTRIBU-
TIONS BY ANY EMPLOYEE TO HIS ANNUITY SAVINGS
ACCOUNT.

(H) ANY EMPLOYEE WHO HAS LESS THAN THIRTY (30)
YEARS OF SERVICE, AND WHO FILES FOR A DEFERRED
RETIREMENT ALLOWANCE, SHALL NOT BE ENTITLED TO
RECEIVE A SUPPLEMENTARY PENSION BENEFIT.

SEC. 6. AND BE IT FURTHER ENACTED, THAT SECTION
198(7) OF SAID ARTICLE 77 OF THE CODE, SUB-TITLE
"CHAPTER 17. TEACHERS' RETIREMENT SYSTEM", BE AND
IT IS HEREBY REPEALED AND RE-ENACTED, WITH
AMENDMENTS, TO READ AS FOLLOWS:

198.

(7) THE BOARD OF TRUSTEES IS HEREBY AUTHORIZED
AND DIRECTED, SUBJECT TO THE ANNUAL APPROPRIA-
TION OF THE NECESSARY FUNDS AND IN ADDITION TO
THOSE PROVIDED IN ACCORDANCE WITH AND IN THE
SAME MANNER AS THAT PROVIDED IN SUBSECTIONS (1),
(2), (3), (4), (5), AND (6), OF THIS SECTION, AND SUBJECT
TO THE CONDITIONS HEREINAFTER PROVIDED, TO MAKE A
SUPPLEMENTARY PAYMENT TO ANY BENEFICIARY [, OR
MEMBER WHO MAY BE RETIRED FROM SERVICE IN THE
FUTURE] WHO WAS RETIRED PRIOR TO JULY 1, 1971, IN
ADDITION TO THE BENEFITS PROVIDED IN SECTION 195
OF THIS ARTICLE, ON THE FOLLOWING BASIS:

(A)    WHICH IS NOT LESS THAN THE RATE OF THE SUP-
PLEMENTARY PAYMENT RECEIVED BY ANY BENEFI-
CIARY PRIOR TO JULY 1, 1962, AND

(B)    WHICH, WHEN ADDED TO THE BENEFITS PRO-
VIDED PURSUANT TO SECTION 195 OF THIS ARTICLE IS
NOT LESS THAN $2,000 PER ANNUM; PROVIDED, HOWEVER
THAT THE SAID BENEFICIARY [, OR MEMBER WHO MAY
BE RETIRED FROM SERVICE IN THE FUTURE,] IS CRED-
ITED WITH 25 YEARS OF SERVICE, AND PROVIDED
THAT ANY BENEFICIARY [WHO MAY BE RETIRED
IN THE FUTURE,] HAVING LESS THAN 25 YEARS OF CRED-
ITABLE SERVICE SHALL HAVE HIS SUPPLEMENTARY PAY-
MENT REDUCED IN PROPORTION TO THE RATIO OF THE
NUMBER OF YEARS OF CREDITABLE SERVICE DIVIDED BY
25, AND PROVIDED THAT NO SUCH REDUCTION SHALL BE
MADE FOR ANY BENEFICIARY WHO HAS RETIRED FOR
DISABILITY PRIOR TO JUNE 30, 1968, AND