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Session Laws, 1971
Volume 707, Page 896   View pdf image
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896

Laws of Maryland

[Ch. 424

(C)    WHICH IS COMPUTED PRO RATA ON THE BASIS OF
THE FOLLOWING CONDENSED TABLE:

BENEFICIARY
RECEIVING UNDER

SECTION 195 OF
TEACHERS' RETIRE-
MENT LAW
$ 900
1200
1500
1800
2100
2400
2700
3000
3300
3600
3900
4200
4500
4800

(D)    WHICH PRO RATA COMPUTATION IS MADE BY THE
USE OF THE FOLLOWING FORMULA:

LENGTH OF

SUPPLEMENTARY

SERVICE

PAYMENTS

25 YEARS

$1100

25 YEARS

900

25 YEARS

825

25 YEARS

750

25 YEARS

675

25 YEARS

600

25 YEARS

525

25 YEARS

450

25 YEARS

375

25 YEARS

300

25 YEARS

225

25 YEARS

150

25 YEARS

75

25 YEARS

0 AND

$4800—B

X

c.s.

25

IN WHICH FORMULA "B" REPRESENTS "BENEFITS PRO-
VIDED BY SECTION 195" AND "C.S." REPRESENTS "YEARS
OF CREDITABLE SERVICE," AND

(E)    PROVIDED THAT THE RETIREMENT ALLOWANCE
USED IN CALCULATING THE SUPPLEMENTARY PAYMENT
SHALL BE THE TOTAL BENEFITS PROVIDED IN SECTION
195 OF THIS ARTICLE EXCEPT THAT IT SHALL NOT BE
BASED ON ANY OPTIONAL BENEFIT CHOSEN BY THE
BENEFICIARY [OR MEMBER], AND

(F)    PROVIDED THAT SUCH BENEFICIARY [OR MEM-
BER], EXCEPTING ANY PERSON WHO MAY [RETIRE]
BE RETIRED FOR REASONS OF DISABILITY, WHO IS ELIGI-
BLE TO RECEIVE BENEFITS FROM THE FEDERAL OLD
AGE AND SURVIVORS' INSURANCE SYSTEM SHALL HAVE
ANY SUPPLEMENTAL PAYMENT FOR WHICH SAID BENE-
FICIARY IS ELIGIBLE, UNDER THIS SUBTITLE, REDUCED
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)    PROVIDED THAT IN THE CASE OF ANY PERSON
WHO HAS RETIRED AS A MEMBER OF ANY LOCAL RETIRE-
MENT OR PENSION SYSTEM OPERATED BY ANY PARTIC-
ULAR CITY OR COUNTY OF THIS STATE FOR TEACHERS TO
WHICH SYSTEM THE STATE'S CONTRIBUTIONS FOR BENE-

 

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Session Laws, 1971
Volume 707, Page 896   View pdf image
 Jump to  
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